Stock markets, Indian stocks
Derivatives strategy on Titan
Company by Nandish Shah, Technical & Derivatives Analyst at HDFC Securities:
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 has given breakout on the daily chart where It managed to close above 20 day SMA with surge in volumes
Stock price is on the verge of giving bullish breakout from the downward sloping trend line, adjoining high of 9th May and 02 -July
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.