Titan - Investment stock selection using Elliott wave

elliott wave investment titan Jul 10, 2023
Titan - Investment stock selection using Elliott wave

We published about Titan in March 2023 and predicted a possibility of Multibagger returns in the coming 2-3 years. This stock has managed to hold its gain and gave more than 26% returns in 3 months of time and made a lifetime high near 3210.

Below is the chart which shows a detailed analysis of Titan which helped to predict this target levels using Channels and Elliott Wave technique and Time cycle. We recommended this stock when it was trading near the 2515 levels and was successfully able to catch the up move.

Titan Weekly chart Anticipated as on 29th March 2023

 Titan Happened Daily chart as on 10th July 2023

Multibagger stock recommendation: Titan

Buy Price – Buy at CMP 2515 more on dips towards 2200 level.

Time Horizon – 2-3 years

Investment – 5% of capital

Target price –??

Stop loss -??

Refer detailed research below

Elliott wave perspective: As shown in the Weekly chart of Titan, wave II ended near the lows of 300 price levels. Since then the stock has shown a really good rally. Currently wave [5] of III is ongoing in an upward-sloping channel (shown in the Weekly chart). Stock is following a multi-year channel since 2008.

Indicator Analysis: We have a MACD indicator. As we can see bullish crossover on MACD is likely to happen but a confirmation is still pending. However, further follow-up action is required for trending move to emerge.

Happened: The stock is moving exactly as we expected. Currently, Titan is trading near 3100 levels. It made a new lifetime high near 3210 levels on 7th July 2023. The up move has been strong and we expect prices to achieve its target of .... levels in coming months. The stock is giving a return of 26% on average return in 3 months of span.

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