We study the magnetic properties of single crystals of rutile TiO2 implanted with cobalt for various fluences. The temperature variation of zero field cooled(ZFC) and field cooled (FC) magnetization shows a much higher blocking temperature (TB) along [1-10]. Similarly the scaling of magnetization isotherms above TB is seen only when the field is parallel to [1-10] direction. With field along this direction, the magnetization shows near saturation at a much smaller field compared to that of[001] direction. The Co nanoclusters possess an easy and hard axis of magnetization coupled by the magneto crystalline anisotropy of secondary phases of cobalt with TiO2. In addition, at T=2 K we observe a crossover in the magnetization vs field isotherms between the two field directions in the samples which has been attributed to the anisotropic paramagnetism arising from cobalt present in 2+ ionic state with S = 3/2.