Titagarh - Double Bottom Reversal Pattern

14 May

TITAGARH Made Beautiful Chart Structure of Double Bottom Reversal Pattern today before Q4 Results with Good Price and Volume action.

Price Action Analysis:
- After a sharp decline from December 2024 to February 2025, the stock has formed a rectangular consolidation pattern
- Current price at ₹806.90, up significantly by ₹57.80 (+7.72%) in today's session
- Strong bullish candle today with substantial range, suggesting renewed buying interest
- Price is testing the upper boundary of the consolidation range

Volume Analysis:
- Today's volume stands at 5.27M shares vs. an average of 1.98M
- This high-volume move indicates strong institutional interest
- Previous bounces from support also showed increased volume (green arrows)
- Volume confirmation adds credibility to the potential breakout scenario

Key Supports and Resistances:
- Strong horizontal resistance at ₹820-830 level (marked by red horizontal line)
- Multiple rejections at this level (marked by red arrows)
- Solid support established at ₹675-680 zone (green horizontal line)
- Major resistance above at ₹1,110 from the previous price structure
- Recent high mark at ₹1,370

Technical Patterns:
1. Rectangle Pattern- Price consolidating between ₹675-680 (support) and ₹820-830 (resistance)
2. Double Bottom- Formed at the support level (₹675) in March and early May
3. Multiple Rejection Points- Four distinct tests of resistance (red arrows)
4. Higher Lows- Recent price structure showing potential strength

Trade Setup:
- Rectangle Pattern breakout opportunity
- Confirmation: If Sustained trading above ₹830 with continued volume support
- Strong rally today suggests momentum building for potential breakout

Entry Points:
1. Aggressive Entry: Current level (₹806.90) with partial position
2. Confirmation Entry: On close above ₹830 resistance
3. Pullback Entry: If price retraces to ₹780 after initial breakout attempt

Exit Strategy:
- Target 1: ₹900 (initial psychological level)
- Target 2: ₹1,000 (round number resistance)
- Target 3: ₹1,110 (previous significant resistance level)
- Ultimate Target: ₹1,300-1,370 (previous high area)
- Trailing Stop: Consider a trailing stop of 3-5% once Target 1 is achieved

Stop Loss Placement:
- Aggressive Stop: ₹775 (below today's low)
- Conservative Stop: ₹740 (midpoint of the range)
- Pattern-Based Stop-Loss: ₹675 (below the established support level)

Risk Management:
- Position sizing: Limit risk to 1-2% of trading capital
- Risk-reward ratio: Minimum 1:1.5 (with conservative stop)
- Consider scaling in on confirmed breakout and scaling out at each target

Keep in the Watchlist.
NO RECO. For Buy/Sell.

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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.

15 May

Not

Took Rejection from zone

16 May

Not

Up 5% in Early Trading Session.

16 May

Not

Comfortably Breaking Red Zone

16 May

İşlem aktif

Up 13% Now

16 May

Not

Seeing a Lot of Guys in FOMO after today's move.
The stock has moved up significantly in a single day, so there are two approaches one could consider:

Buy a partial position now to capture the momentum, with plans to add on any minor pullbacks
Wait for a small retracement toward the ₹850-870 range, which could act as the new support level

If you're a more conservative trader, waiting for a small pullback might provide a better risk-reward entry. For more aggressive traders, the current breakout presents an opportunity, but be aware that stocks can sometimes pull back after such strong single-day moves.
The overall trend appears to have shifted from bearish to bullish, with higher lows being formed since February 2025.

19 May

İşlem elle kapatılmış

Gave a 20% Swing From Reco up to 947 today and faced rejection from higher levels

21 May

Not

Tried Getting Back But Again Faced Supply

29 May

Not

Rangebound Flag Like

30 May

Not

Trying to break flag on downside