Nifty Update: Titan Update.

Prudent  Investments.

( Invest With Prudence. )

Short Term View.

Titan Ichimoku Chart.

As per the charts above

Titan has broken its support and has closed below it.

Most importantly this support has been broken after forming a  Double Top.

Another important point to be noticed is , at the time of Double Top Formation, RSI has formed a Bearish Divergence, which acts as a supporting tool to BO of support.

However, i would wait for appropriate Price Action, before entering into a trade , due to the fact that in the current scenario the Risk : Reward does not match. ( Daily basis. )

Once this hindrance is passed, we may see Titan coming down to app 1150 – 1170, 

( See the Two Targets Line marked in Red in pic 1 )

If someone has to take a trade in the current scenario, then one can go short even at CMP, with SL in spot above 1266 (15 M closing basis )………..Targets being the same.

The ichimoku chart suggests that this target can be achieved in a time frame of  about 8 – 10 days, provided the trade is taken with correct Risk : Reward.

Note :

I am not a SEBI registered Investment Adviser and my accuracy is not guaranteed. My posts are my personal views and for information / educational purpose only.

Therefore, kindly, do your own research or consult your adviser before trading or making any investment. 

I am a Trainer & Mentor, for those who wish to learn Technical Research in Capital Markets. My ambition is to make you self – sufficient, by teaching you from Basics of Technical Analysis to High Probability Trade Setups, so that you gain expertise and make money / create wealth for yourself.

Image and article originally from Read the original article here.