Yes, The Idea is scary as I mentioned it too. And you are right; it can go to 592, which is a swing high formed in January 2018. I will close the Havells future position when the price reached 610 in the spot. But it will be a good buy again at your mentioned level of 585.
@FoxTrot99, Very Good bro. I exited futures position at 602. It was a 600 in the spot. I don't hold on to losing a position. Also, I won't short it because I don't do stop and reverse kind of trades. Havells is a breakout now on the downside, but it is not offering a good risk-reward ratio on a short trade. Havells today's low is 588.30
@Equity-Earningz, i agree Risk Reward is not favorable as well as Rating Agencies have also decreased long term target.I think Havells needs some consolidation at this level after that long position should be taken.