TECHNICAL ANALYSIS STOCK TITAN LTD TRANSMISSION CHART

                      [TECHNICAL ANALYSIS of TITAN LTD]

[technical ANALYSIS]

On the daily chart, Titan Company Ltd. (TITAN) has turned upwards after taking support at the trend line support placed at Rs 800. Further, it took support at the 78.6% Fibonacci retracement level affirming bullishness. Moreover, the RSI has also turned upwards after forming a positive reversal indicating that the downtrend is losing steam. Moreover, it has formed a positive reversal on the higher time frame charts suggesting more upside.

Buying TITAN future currently levels around 850 for the upside target of Rs 870 and 895 keep a stop loss placed at Rs 523.

Stock resistance and Support   (daily)

·       Resistance  1      -  884Support 1       -  830

·       Resistance 2       -  937Support 2       -  797

·       Resistance 3       -  1004Support 3       -  753

[Fundamentals analysis]

The company is planning to enter into international markets in jewellery under "tanishq” segment by the end of fy19.with improvement in operational efficiencies and expansion strategies in retail network,

·    The company can capture more market share. The stock is valued at 52 times on Bloomberg consensus.However, government regulations on gold purchases, competition from regional jewellery players & competition from e -commerce player’s well be the key risks.

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