Titan | RSI Divergence | Latest stock market news(3 minutes read)

Stock name: Titan

Pattern: RSI Divergence

Time frame: Daily

Observation:
Titan has been consolidating in a range for the last few days (2530 to 2750) and is currently near the bottom of the range. It seems that a double bottom pattern may be in formation and the stock may go up from here, however an RSI divergence is also visible in this stock, (which means that the price has made a higher low but RSI has made a lower low) indicating weakness in upward momentum.

You may add this to your watchlist to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

1) Bharti airtel adds 4.12 L subscribers vs 3.26 L (Mom basis), Vodafone Idea loses 40.11 L subscribers vs loss 19.58 L (Mom basis) and Reliance Jio adds 7.24 L subscribers vs 32.81 L (Mom basis).

2) Shares of Kaynes Techonology India Ltd. made a strong market debut today with the stock listing at ₹ 778 apiece on the NSE, a premium of more than 32% as compared to its IPO issue price of ₹ 587 per share.

3) Vedanta's Board of Directors will meet on today and will consider and approve the third interim dividend on equity shares, if any, for the financial Year 2022-23.