Weekly Techno-Funda Report – 07 March 2017

titan

SHORT TERM PERSPECTIVE

Company Recommendation SL Target Price Horizon
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.

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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.

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