Titan has been consistently maintaining its long term uptrend since the year 2003 and generated exceptional returns for the investors during this tenure.
After testing the major support zone of 200 EMA on the weekly chart in Jan, 2014, it rebounded strongly from 202.45 level and doubled in just ten months.
It has been witnessing profit taking for last two months and formed a declining channel on the daily chart. Currently, it’s trading around the upper band of the channel and likely to witness an upside breakout from the same in near future. The chart pattern and confirmation tools are also in the agreement for resistance breakout. Accordingly, one may accumulate between 378 -CMP(382.80) with closing below stop loss of 362 level for the target of 430 level.