Titan share price plunges 10 percent; Time to make money? Read experts' call
Titan share price crashed from around Rs 1235 per stock levels yesterday to Rs 1165 per share levels in the intraday trade.
Titan share price has tanked 10 per cent after its Q2FY20 earnings were announced yesterday. Titan share price crashed from around Rs 1235 per stock levels yesterday to Rs 1165 per today by 2:15 PM. So, the stock market investors are keeping their fingers crossed and wondering what they should do in regard to the Titan shares.
Time to make money?
According to the outlook of share market experts, Titan share price is range-bound between Rs 1160 to Rs 1350 levels and a major dip caused by the weak sentiment would actually make an ideal buy position in the counter with a stop loss of Rs 1150.
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Speaking on the Titan share price outlook, Santosh Meena, Senior Analyst at TradingBells said, "Titan stock fell after its Q2FY20 results as earnings missed estimates and management cuts guidance for the Jewellery business in H2 FY20. A similar situation has occurred in the past also but at lower levels, it manages to attract investors' interest. Current fall is another buying opportunity for investors where 1160-1130 is a strong demand zone which coincides with its 200-DMA of 1143. Upsloping trendline support comes around 1100 level and this should be stop loss for those who have a trading view in Titan while for long term investors any dip is a buying opportunity till 1000 level."
Speaking on the Titan share price and the strategy that a stock market investor can adopt, Prakash Pandey, MD & CEO at Plutus Advisors said, "The Titan share price has been range-bound in Rs 1160 to Rs 1350 and after the September quarter results, the share price is expected to shed in terms of sentiment. However, my advice to the stock market investor is to buy the counter below Rs 1200 per stock levels for the target of Rs 1350 in the next three months in the bluechip company." He advised taking a stop loss at Rs 1150 levels while taking any buy position in the counter.
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