NSE TITAN: Trading Insights & Dual Scenarios Analysis

NSE TITAN – Bull Victory

Did you trade NSE TITAN Wave Setup?
Visit here: NSE Titan: Bulls Halt the Plunge?

BEFORE

We had written clearly, “3269 can serve as an entry-level for the following targets: 3341 – 3444 – 3620+.”

AFTER

Timeline:

[23 July 2024]

• 12:10 PM – Price reached the first target of 3341.
• 01:05 PM – NSE TITIAN hit our second target of 3444.

[24 July 2024]

• 01:10 PM – The price made a new high of 3532 but failed to break the above wave (B).

Let’s analyze the current count of NSE TITAN.

Bullish vs. Bearish: Analyzing Dual Scenarios in Wave Patterns

NSE Titan reached an all-time high of 3886.95 before starting a sharp decline to correct its movement. The price dropped by 833.2 points, or 21.43%, from the high. The sideways movement has rendered the 200 EMA ineffective. The ADX indicates weakness, currently below 15.57, while the ATR stands at 76.58.

Timeframe: Weekly (Scenario 1)

Scenario 1 illustrates a bullish perspective and the unfolding of a sub-wave within an impulsive cycle. Wave II retraced 61.8% of Wave I, reflecting a sharp and deep correction. Wave IV has already retraced 50% of Wave III and has approached the area near the sub-wave 4 of a smaller degree. At this point, the corrective structure appears to be complete, signaling the start of a new impulsive cycle. The new sub-wave can be labeled as (1) – (2), 1 – 2. In this scenario, traders should consider setting their targets up to 4300.

Timeframe: Weekly (Scenario 2)

Scenario 2 presents a bearish perspective and suggests the continuation of the corrective formation. Wave IV is not yet complete, and the decline could persist as a contracting triangle is evident in the current price action. This may likely represent wave B of a double three formation. If the price follows this scenario, traders should anticipate a fall that does not breach the baseline, as it serves as the invalidation point. It’s more likely that we’ll see a sideways structure, with wave IV not extending beyond 61.8% at 2790 of wave (3).