Breakout soon in Havells.

BullishLine Updated   
As we can see from the chart havells india looks promising in weekly timeframe. It has been consolidating within a demand and supply zone for the past 28 months, forming a rectangle channel pattern.

Today, it has reached the resistance level with a good amount of trading volume. This increases the likelihood of a breakout. However, there are a few things to consider before investing. We should wait for the price to break out with even stronger trading volume and stay above the 1400 level before entering a trade.

To manage our risk, we can aim for a 10% gain in the trade while setting a 10% stop loss. Why bigger stop loss?, because stocks might show 'fake-out' and falls back at first go and again give breakout. By doing that we can remain in this trade.

Note- You can use your strategy and then dive into the trade, that is the only thing that can make you profitable. Do not seek any tips and trade calls from others. It was all for educational purpose.
Trade active:
Finally, our trade has been activated in Havells India as it has experienced a significant breakout with substantial volume. I shared this analysis on 19th July in anticipation of the breakout, but it took some time. After retesting, it entered an accumulation zone, and now the analysis has been validated. We can target as high as 10%, with stop-loss and targets already specified.


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