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.