Derivatives strategy on Titan Company by HDFC Securities

Stock markets, Indian stocks
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 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.