PL Technical Research: Buy TITAN INDS - Technical Pick

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

BUY TITAN INDS CMP: 3262 TRGT: 3630 SL: 3120 - TECHNICAL PICK - The stock has indicated series of higher bottom formation on the daily chart with overall maintaining a strong ascending trend since the last 5-6 months. Currently, it has retraced to take support near the significant 50EMA level of 3120 zone and indicated a decent pullback with improvement in the bias and anticipate for further rise in the coming days.

The RSI also is well placed and has indicated a trend reversal to signal a buy with much upside potential visible. With the chart looking attractive, we suggest to buy and accumulate the stock for an upside target of 3630 keeping the stop loss of 3120.