Titan Industries: support under pressure
Company profile: Titan Industries Ltd. manufactures and retails jewelry and watches. The Company produces quartz analog electronic watches, watch movements, step motors and watch cases.
Weekly outlook: Rapidly deteriorating indicators (especially on the daily chart) suggest a trend reversal has become likely. Prices are currently testing the support zone 270<>257. here the trend line of 2009, MA200 and intermediate support line fall together. Breaking below this area triggers a deep correction towards minimally 211.80. Prepare to exit-long.
- Primary trend: neutral
- Outlook: negative < 257
- Support: 257 / 211.80 / 154.80
- Resistance: 301.08 / 313.35
Weekly chart Titan Industries (NSE)
Category: India
