TITAN | Will 1150 hold???

Titan pierces through an important support level, which is what could be a trend defining one. Price range offers support through a Rising Trendline, 100 SMA and price support of 1150. The fall is largely triggered by the news of a slow down acknowledged by the management.

However, the suggestion would not be to short sell right away but to wait for today's close. A close below 1150 will definitely invite more bears; 1075 and 1000 is where the bears might think of taking a break. Alternatively, if the stock somehow manages to get back in and closes above the range 1150-1170, we would consider it as a good opportunity to go long and Risk-Reward would be extremely favorable. Hence, in all case today's close is the deciding factor.



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