Keep a watch on Titan and Delta Corp: Mitesh Thacker
"The entire consumption space there are first signs of weakness. You have seen Titan come off from levels of 230 and 230-235 for Titan have been important levels."
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| Updated: Mitesh Thacker, Technical Analyst, miteshthacker.com in an interview with ET Now talks about consumption stocks.
What is the call on Titan and Delta Corp?
The entire consumption space there are first signs of weakness. You have seen Titan come off from levels of 230 and 230-235 for Titan have been important levels but otherwise, we saw weakness in VIP after slightly disappointing numbers. Delta Corp also went down to 95 before bouncing back on the Diwali day.
TTK Prestige was also showing some kind of weakness but in this market, you might see these stocks bounce back and stay above their short term averages.
It will be important to keep a watch on them because they have been one very high beta stocks plus there are first signs of a significant correction developing over there.
So if they do not participate as well in the markets post the strong opening and probably in the next few days if they show signs of weakness, I would be looking to short this space.
What is the call on Titan and Delta Corp?
The entire consumption space there are first signs of weakness. You have seen Titan come off from levels of 230 and 230-235 for Titan have been important levels but otherwise, we saw weakness in VIP after slightly disappointing numbers. Delta Corp also went down to 95 before bouncing back on the Diwali day.
TTK Prestige was also showing some kind of weakness but in this market, you might see these stocks bounce back and stay above their short term averages.
It will be important to keep a watch on them because they have been one very high beta stocks plus there are first signs of a significant correction developing over there.
So if they do not participate as well in the markets post the strong opening and probably in the next few days if they show signs of weakness, I would be looking to short this space.
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