Havells - Respects Price Polarity

Havells is in a precarious position. The stock has managed a short-term bounce recently which now faces resistance from erstwhile supports in the range of (620-640). Sharp price volatility which we noticed yesterday can be a sign of shake off which can now lead further weakness. Trigger for this we will get once the stock breaches the low of 615. From a bullish perspective the stock should attempt to move above the 620-640 resistance zone as soon as possible, or else a failure to do so will lead to further price weakness.

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