Recommended Stock of the Week: Titan Company Limited
Weekly Techno-Funda Report – 07 March 2017
SHORT TERM PERSPECTIVE
|TITAN||Buy||Rs 415||Rs 480/510||2-3 Weeks|
(CMP – Rs442)
Titan Company Limited is engaged in offering watches, jewelry and others. The Company offers plain and studded gold jewelry brands, such as Tanishq, GoldPlus, Zoya, Mia, which are retailed through Tanishq, GoldPlus, Zoya & Mia stores. It also offers accessories, such as bags, sunglasses in brands, including Titan, Sonata, Fastrack and sub brands, such as Raga, Xylys and Edge, among others.The Company offers frames, contact lenses, and Sunglasses in brands, such as Eye+. The Company’s eyewear brands are retailed through Titan Eye Plus stores.
Intermeditiate trend is up in Titan and it continuously making higher top higher bottom pattern on daily chart, this is bullish pattern in nature. After a small correction stock is consolidating near to 20 days moving average which has been act as a support in previous days. Good volume growth and indication by indicatorsshows it can move higher from current levels.Hence, one can initiate buy position at current level with a stoploss of 415(closing basis) and respected target seems 480-510. Time frame should be 2-4 week.
Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014
Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision. Read More …
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