QUERY CORNER: Long-term uptrend in Tata Motors: Business Line

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Please give the technical view of Titan Industries.

R. Jain

Titan Industries (Rs 3,911.1): In our review of this stock in January, we had indicated that the stock was in a very strong uptrend and that the medium-term correction that began last November could halt in the zone between Rs 2,900 and Rs 3,000. We had given Rs 2,850 as the stop-loss for short-term investors and Rs 2,000 as the stop-loss for long-term investors.

The stock reversed higher from the low of Rs 2,943 formed in February after declining 30 per cent from its peak. As explained earlier, sideways move between Rs 2,950 and Rs 4,250 will be positive from a long-term perspective ushering in a rally to Rs 4,250 and beyond that to Rs 5,150 over the ensuing months. Investors with short- to medium-term perspective can book some profit if the stock stutters around the previous peak around Rs 4,250.