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You are here : IndiaNotes >> Market Action >> Technical

Technical stock pick: Titan Industries

HDFC Sec | Published: 25 Jul, 2012  | Source : ValueNotes.com | Follow Author | Add to my Favourites


Technical Analysis
The following technical observations make Titan Industries a buy:

1. Titan Industries is trading above the upward sloping trend line above which is a bullish indication.

2. The stock is trading above its long term moving averages. The 200-day exponential moving average is trading at Rs218 and 200-day simple moving average is trading at Rs216 which is a bullish sign.

3. The last downward move from Rs254 to Rs204 took 20 trading sessions, which is close to important Fibonacci number of 21. So time wise downward correction has already taken place and the upward rise is about to begin.

Oscillator

Current value

Average value

MACD – 9days

0.68

0.42

RSI – 14 days

55.23

51.39

ROC – 10days

0.31

-1.78


Stock Recommendation
The oscillators are generating fresh buy signal. Buy Titan Industries between Rs223 and Rs220 for a price target of Rs243 in 7 days keep a stop loss of Rs215 on the closing basis.

  Read full report Click here to read the full report

About HDFC Sec

HDFC Securities a trusted financial service provider promoted by HDFC Bank and JP Morgan Partners and their associates, is a leading stock broking company in the country, serving a diverse customer base of institutional and retail investors. HDFCsec.com provides investors a robust platform to trade in Equities in NSE and BSE , and derivatives in NSE. Our website will support you with the highest standards of service, convenience and hassle-free trading tools.

For more information please write in to editor@indianotes.com


Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.



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Avinnash Gorakssakar
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