Stock Radar: Titan Company Bounces Back After Retesting 50-EMA on Daily Charts

Titan Company Ltd, one of the leading players in the gems and jewellery segment, has shown signs of recovery on the charts. After retesting its 50-day Exponential Moving Average (EMA), the stock has managed to bounce back, indicating possible bullish momentum ahead.

The stock recently tested its 50-EMA support level and has now rebounded, which could open up short-term buying opportunities.

Technical Setup Looks Positive

Titan, which is also a part of the BSE Sensex, had previously hit a high of ₹3,866 on September 30, 2024. However, it struggled to hold onto those gains and eventually pulled back to retest its key technical level.

This retest of the 50-EMA is often seen as a healthy correction in technical terms, especially if the price holds and rebounds from that point. According to experts, if the momentum continues, the stock may head towards ₹3,500 over the next 2–3 weeks.

Traders with a short-term view can consider entering long positions, with an eye on the ₹3,500 target level, provided the stock sustains above its recent support.

Stop-Loss Crucial for Risk Management

While the current trend looks supportive for a short-term rally, analysts also advise placing a strict stop-loss to manage downside risk. The stock’s movement around the 50-EMA will be crucial in determining its next direction.

A well-placed stop-loss below the 50-EMA level is recommended for traders, as it helps protect against any unexpected reversal.

Gems & Jewellery Sector in Focus

As a prominent player in the gems and jewellery sector, Titan’s price movement often attracts attention from both retail and institutional investors. The recent technical bounce has further strengthened its position as a stock to watch in the near term.

In Summary

Titan Company Ltd has bounced back after retesting its 50-day EMA, showing early signs of a recovery. Experts suggest that if this momentum holds, the stock could move towards ₹3,500 in the next few weeks. Traders are advised to consider a stop-loss strategy to manage risk effectively while participating in the uptrend.