Buy HAVELLS India - Target Rs.1340 to Rs.1390

HAVELLS INDIA
HAVELLS INDIA

Stock Recommendations
by Sachin Gupta Last Updated: 2022-08-01T14:29:33+05:30

    1. On the daily timeframe, the stock has been forming Inverse “Head & Shoulder Patterns” that indicates trend reversal.

 

Havells India Ltd

 

2. The price has sustained above 200-Days “Simple Moving Averages”, which acts as strong support for the stock.

3. The price has also confirmed Falling “Trend-line Breakout” that shows bullish strength for the short term.

4. Moreover, the stock prices are hovering above “Ichimoku Cloud” formation and momentum indicator RSI (14) is trading above 60 levels that suggest the bullish momentum.

5. So based on the above technical structure, we are recommending buy in HAVELLS in the range of Rs. 1275-1280 for the upside target of Rs. 1340 &1390.The stop loss for positions should be placed below Rs.1213.

Recommendation

BUY

Buying Range

1275-1280

Stop loss

1213

Target 1

1340

Target 2

1390

 

 

 

 

 

 

 

 

 

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About the Author

Mr. Sachin Gupta is a Senior Research Analyst at 5paisa, based in Mumbai. He has over 10 years of experience in Equity, Commodity research and strategies. 

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

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