This Rakesh Jhunjhunwala stocks portfolio is in the news - see strategy

Rakesh Jhunjhunwala stocks portfolio has a massive holding in Titan Company. Jhujhunwala holds 5.32% stake in Titan or 4.7 cr shares worth Rs 6850 cr. Titan forms over 42% stake of Rakesh Jhunjhunwala Portfolio. The Big Bull Rakesh Jhunjhunwala holds 1.6% stake in Lupin or 72.45 lk shares in Lupin worth Rs 730 cr. Vishal Wagh, Research Head, at Bonanza Portfolio highlights technical analysis for traders and investors, so that they can understand the levels to trade in this stocks. Titan Share price today is Rs 1440, down Rs 12 or 0.8%. Lupin Share price today is Rs 1031, up Rs 23 or 2.3%.

Vishal says that Titan is one of those stocks which managed to multiply from march lows. It has given a magnificent 125% returns to investors from there. It was one of those stocks which have got affected due to pandemic on the topline but the inventory valuation of gold has given some relief. Titan is clustering around the upward sloping trendline from the lows of March and May 2020. In January 2021 it created a top at 1621.40 levels and posted a healthy correction till 1396 as seen by the stock. 

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At the same time, the pre covid top of Titan is at 1389 is also tested. So, the support around the 1389-1400 zone where the weekly trendline also exits. The confirmation of the near-term bottom will come only above weekly central pivot levels i.e. 1465. Once it cuts 1465 it may move towards 1621 levels. On the flip side, if it penetrates 2020 high then it may drift towards the 1170 zone which is a 50% retracement of the rally.

Vishal highlights that the pharma index has completed a five years downtrend in May 2020. The same pattern is visible in Lupin also. The stock has shown an absolute correction of more than 75% from the level of 2067 to 504.75, in a five years down cycle. The stock has retraced 38.20% of the downtrend and it is facing the resistance around 1120-1125 zone. Lupin has created a 'Double Top' on a weekly basis and an 'M pattern' daily chart. Both these patterns suggest that the stock will face resistance at 1120-1125 levels.

Vishal says Lupin is sustaining below 8 weeks' rolling pivot which is currently at 1034 and it is showing support around 20 weeks' ema at 1000 level. On a daily basis, the stock is sustaining below 20 and 50 ema. At the same time, the RSI is shown support at 40 levels. So, one can expect a small bounce in the prices but it may not sustain as the weekly and daily setup is weak. On the lower side, support is at 978. Below it will go in negative territory and it may test the depth of double bottom at 855 zones. On the higher side 1120-1125 will work as resistance.