Titan Company Ltd - BUY
CMP: Rs 466, 3-6 Months Target: Rs 563, Stop loss: Rs 410, Upside: 20.8%
Titan Ltd has broken out from a consolidation rectangle pattern, which took around 111 weeks to form. After touching an all time high of Rs 448.4 in the first week of February 2015, Titan entered into a long drawn consolidation phase. During this period, Titan once again made an attempt to surpass its all time high in September 2016 but the attempt went futile as the stock made a bearish shooting star on weekly charts and retraced back to Rs 300. Finally, Titan staged a strong recovery starting November 21, 2016, surpassed its all time high and convincingly sustained the same.