 "Derivatives strategy on Titan Company by HDFC Securities")
Derivatives strategy on Titan Company by Nandish Shah, Technical & Derivatives Analyst at HDFC Securities:
Buy TITAN July Future at Rs 865
Stop loss of Rs 850
Target at Rs 890
Rationale: Long build up is seen in Titan futures’ during the current series till now where Open Interest rising by 6% with Price rise of 4%.
Stock Price has given breakout on the daily chart where It managed to close above 20 day SMA with surge in volumes
Stock price is on the verge of giving bullish breakout from the downward sloping trend line, adjoining high of 9th May and 02 -July 2018
Momentum Indicators and Oscillators like RSI and MACD are Indicating strength in the stock for the short to medium term.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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