Tuesday, 02 January 2024 12:17 GMT

Titan Breakout Backed By Fundamentals: SEBI RA Gaurav Narendra Puri Sees ₹3,600₹4,000 Upside


(MENAFN- AsiaNet News)

Titan is showing strong bullish momentum with a flag pattern breakout and improving fundamentals, according to SEBI-registered analyst Gaurav Narendra Puri. 

At the time of writing, Titan shares were trading at ₹3,514.40, down 0.3% or ₹9.8 on the day.

He has set a 3-month target range of ₹3,600–₹4,000 with a stop-loss at ₹3,400.

According to SEBI-registered analyst Gaurav Narendra Puri, Titan is poised for further upside after forming a flag pattern breakout on daily charts. 

He noted that the stock, currently trading at ₹3,520, shows bullish momentum, supported by an RSI of 58 and strong volumes over the past few weeks. 

Puri added that the 20-day EMA is a firm support on the daily timeframe.

From a fundamental perspective, the analyst pointed to consistent core profit growth over the past three years, a promoter holding of 52.90%, and steady asset growth over the last five years as supportive indicators for medium-term upside.

Puri has assigned a 3-month price target range of ₹3,600, ₹3,700, and ₹4,000, with a stop-loss at ₹3,400.

On Stocktwits, retail sentiment was 'neutral' amid 'normal' message volume.

The stock has risen 8% so far in 2025.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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