Titan had been a strong outperformer in the market for many months and it has continued to touch new highs when broader stocks have collapsed. Is it possible to identify such gem using Elliott wave pattern?
Yes, see the below research published on 2nd May 2018 in our Multibagger recommendations. Will all stocks move this way? No, there will be a few gems that will strongly outperform the overall portfolio and will eventually drive the portfolio value higher. The others might give average return or can underperform but the key is to keep riding the outperformers and investing with key stop levels to minimize the loss in case of any adverse move.
We recommended this stock when it was quoting near the zone of 950 – 840 and was successfully able to catch the upmove. It recently touched its lifetime high near 1345 levels. See yourself the detailed research based on which we were bullish on this stock as a potential Multibagger.
Below is the chart showing detailed analysis published in our research report –“The Financial Waves Multibagger Update” on 2nd May 2018
Titan Weekly Chart: (shown on 2nd May 2018)
Titan Daily Chart: (as of 3rd October 2019)
(Following research is taken from Multibagger report published on 02nd May 2018)
Multibagger stock recommendation: Titan
Buy Price – Buy in staggered fashion from 950 to 840 zones. Accumulate on declines.
Time Horizon – 1 – 2 years
Investment – 5% of capital
Target price –???
Stop loss -??
Anticipated as on 02nd May 2018- As shown in Weekly chart of Titan wave II or IV ended near the lows of 300 price levels. Currently wave (b) of (4) is on-going in an upward sloping blue channel (shown in Daily chart). Post completion of wave (b) the ending phase of wave (c) should take prices lower towards … levels. Since this is an Irregular Flat correction pattern it is best to accumulate this stock on declines and wave (c) might end higher. So the zone of 950 to 840 should be used as accumulate zone.
One can maintain stop near ….. as this is below the weekly Gap area. The overall long term trend for Titan is positive and declines will provide excellent opportunity to accumulate.
Conservative target for this stock can be maintained at …. on upside which is also the log projection of previous impulse wave.
Happened till date – The stock has been moving in sync with our expectation and hit its lifetime high near 1345 levels on 23rd September 2019. The upmove has been strong and we expect prices to achieve its target of ….. levels. The stock is giving a return in excess of 50% in 17 months of time when Nifty has not moved anywhere and broader markets have collapsed during such time.
It is indeed a thrilling experience to see the Multibagger stocks following Elliott wave path so amazingly well despite of events like Budget, policy and much more. Do you want to equip yourself with the necessary tools and take independent trading / investment decisions for lifetime? We can help you with identifying the stocks which can give alpha returns over medium to long term holding period. Know more here