Titan soars over 5% on June 21! Time for a “value-buy”?

Titan soars over 5% on June 21! Time for a “value-buy”?

by 5paisa Research Team Last Updated: Dec 13, 2022 - 07:24 pm 24.2k Views

The stock of TITAN has soared over 5% on Tuesday and is the top gainer amongst Nifty stocks.

The shares of Titan Company Ltd were under strong sell-off in recent days due to weak market sentiment. The stock had plunged below its key moving averages and hit a fresh swing low of Rs 1910.55. However. in the past two days, the stock has jumped over 8%. Thus, it has shown a good bounce from its lower levels and has witnessed strong buying today. The volume registered today is greater than the 10-day and 30-day average volumes. On the technical chart, the stock has formed a strong bullish candle and is showing a sign of reversal.

As per the technical parameters, the stock’s strength has improved significantly. The 14-period daily RSI (43.34) has registered a breakout from its falling trend. Moreover, it has also jumped over its oversold counters. Meanwhile, the On Balance Volume (OBV) has jumped and indicates improved strength from the volume’s perspective. The Relative Strength (RS) has surged past the zero line and demonstrates outperformance of the stock as against the broader market. Meanwhile, the TSI and KST indicators also show improvement in the stock’s performance. Thus, the price action along with the technical parameters indicate bullishness.

Good trading opportunities will arise when the stock sustains above its resistance level of Rs 2160 level. Interestingly, this level also happens to be its 20-DMA level. Any rise above this level can see the stock zoom towards the level of Rs 2250 and beyond. Meanwhile, the stock has plunged over 30% from its lifetime high and is a great value buy. Long-term investors can accumulate such good quality stocks at dips and can be rewarded in long term. With global recession looming, gold prices are expected to rise which shall ultimately benefit the company. Thus, the stock is also a good strategic buy. You can include this stock in your watchlist to track further development.

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

Open Free Demat Account

Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest News
How PFC F&O contracts will be adjusted for special dividend

In its Board Meeting held on 27th May 2023, the board of directors of Power Finance Corporation (PFC) Ltd has approved an Interim Dividend pay-out of ₹4.50/- per equity share of face value of ₹10/- each.

  • Jun 09, 2023
What you must know about Cell Point IPO

Cell Point (India) Ltd is one of the largest retail outlets for mobile phones and other electronic accessories in South India.

  • Jun 09, 2023
Sahana Systems IPO GMP (Grey Market Premium)

Sahana Systems IPO worth ₹32.74 crore comprises entirely of a fresh issue of shares by the company. The price band has been fixed in the range of ₹132 to ₹135.

  • Jun 09, 2023

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number