Titan Company Limited (TITAN) shares are currently in focus as traders and investors analyze the latest price movements and forecasts. As of October 7, 2024, the stock is trading at ₹3,757.65, reflecting a modest increase of 0.55% from the previous close of ₹3,737.25. This article provides full details on the current updates, levels, and expected price action for Titan shares today.
Main Points
As of October 7, 2024, Titan Company’s stock has shown a slight upward trend. The stock opened at ₹3,738 and has reached a high of ₹3,777 with a low of ₹3,701 during the trading session. The market cap stands at approximately ₹331,787 crores, making it one of the significant players in the Indian stock market.
Key Metrics
| Metric | Value |
|---|---|
| Current Price | ₹3,757.65 |
| Previous Close | ₹3,737.25 |
| Day’s High | ₹3,777 |
| Day’s Low | ₹3,701 |
| Market Cap | ₹331,787 Cr |
| P/E Ratio | 96.58 |
| ROE | 37.21% |
Analysts are closely monitoring Titan’s price action as it hovers around critical support and resistance levels. The immediate support is identified at ₹3,713.58 while the first resistance level is set at ₹3,789.33. If the stock maintains its position above ₹3,770.31, there is potential for further upward movement towards targets around ₹3,806.95 and possibly up to ₹3,871.25 in the near term.
The AI-driven predictions suggest that Titan shares may continue to trade sideways with no significant momentum observed recently. The Munafa value for Titan is currently at 60, indicating a neutral stance in short-term trading strategies. Traders should be cautious as the stock has shown signs of weakening momentum despite being above key support levels.
Recent analyst ratings reflect a generally positive outlook for Titan Company. Out of 28 analysts covering the stock:
- Strong Buy: 7
- Buy: 8
- Hold: 9
- Sell: 4
The mean target price set by analysts is around ₹4,000, suggesting potential upside from current levels.
Trading Volume and Market Sentiment
The trading volume for Titan Company has been robust with over 2 million shares traded today alone. This high volume indicates strong investor interest and could signal further volatility in the stock price.
From a technical perspective:
- Moving Averages: The stock is currently trading above its key moving averages which suggests bullish sentiment.
- Relative Strength Index (RSI): Currently at 59.16 indicates that the stock is nearing overbought territory but still has room for growth.
Conclusion on Current Trends
As Titan Company navigates through these market dynamics, investors are advised to keep an eye on both macroeconomic factors and company-specific news that could impact share prices in the coming days. With its strong fundamentals and positive analyst sentiments, Titan remains a noteworthy consideration for both short-term traders and long-term investors alike.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
