Top trending stock: Titan Company

On the technical chart, the stock of Titan Company is trending strongly on the higher side as it trades above all the key moving averages. The stock has surged over 3 per cent and is one of the top gainers of Nifty 50 pack. The stock hit its fresh all-time high of 2,678 on October 18. Since then, the stock has corrected almost 17 per cent. It took support at its 100-DMA and has made a sharp recovery since then. The RSI at 66 indicates the strong strength of the stock. Moreover, the MACD histogram is increasing, which suggests the bullish nature of the stock. On the weekly timeframe, the Elder Impulse System is giving a fresh buy signal. It is trading higher for the fifth straight day and rising volumes have been recorded during this period, which validates the bullish bias of the technical indicators. The stock also fits into the CANSLIM characteristics as well as Warren Buffett’s rules of investing.

The stock is not only bullish in short term but also, outperformed Nifty in the medium term. In the last one year, the stock has delivered 60 per cent returns to its investors while Nifty gained about 24 per cent during the same period. Moreover, it has also outperformed its peers by a large margin.

The company’s shareholding patterns comprise promoters' holding on over 60 per cent of the stake. The foreign institutional investors hold about 20 per cent of the part while the domestic institutions hold 6 per cent. The rest is held by the public. With strong support from the institutional investors, the company looks perfect for the long-term too.

Titan Industries Ltd is India’s largest manufacturer of Quartz watches and the world’s sixth-largest manufacturer of branded watches. Along with this, in the jewellery segment, its brand Tanishq has a wide range of diamond, gold, and platinum jewellery. Titan has marked its presence in the field of eyewear, sunglasses, and automation solutions too. Having a strong business portfolio and technicals, the stock is lucrative for trading as well as for investing.