Titan share falls over 4 per cent in 2 trading sessions: Experts expect downward trend ahead
Titan share price: The company’s share closed at Rs 2,485 apiece — which was 1.49 per cent lower on NSE.
Titan share price: Major watch and fashion accessory manufacturer Titan's share declined over 1 per cent intraday on Friday and the stock has registered a slump of over 4 per cent in the previous two sessions amid profit booking in the domestic equity markets.
The company’s share closed at Rs 2,485 apiece — which was 1.49 per cent lower on NSE. Year To Date (YTD) the stock has declined around 2 per cent and in the past one month the stock has cracked around 4 per cent.
The 52-week range of Titan stock is Rs 1,825.05 to Rs 2,791.00. Intraday, it closed 11 per cent lower than its 52-week high.
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Zee Business panelist Kunal Saraogi had said that Titan stock can see a more downward trend, and it witnessed a new breakdown today.
Saraogi gave a 'sell' call, saying that Titan shares can see a big support around Rs 2,400 and there should be no issue even if the stock further drops by Rs 100.
Market Expert Kunal Saraogi's Titan Share Price Target: Rs 2440/2400
Titan Share Stop Loss: Rs 2550.
According to Nilesh Jain, AVP of Centrum Broking Ltd, Titan's chart structure looks weak. “It broke an important support of Rs 2550 which will now act as an immediate hurdle. The downside may extend towards Rs 2440-2400,” he said.
A joint-venture between TATA Group and Tamilnadu Industrial Development Corporation, Titan Company Limited manufactures fashion accessories such as jewellery, watches and eyewear and has a market cap of Rs 220,455 crore.
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