PRIYABRATADAS

HAVELLS _ LONG on WEEKLY CHART

NSE:HAVELLS   HAVELLS INDIA
NSE:HAVELLS

We are analysing Havells on weekly charts. Its an Uptrend Stock as you see where the company has seen some stagnation in revenues in last 4 years but 2.5x growth in Scrip Price as OP has moved 2x+ due to better Op Margins. June '19 : Rev: 4.5% up, OP: -10.5% and same for EPS .

Now on technical - it follows Nifty50 line strongly - so simply if Nifty retraces to 11.5-11.7k levels - you can take 50-60 points in Havells gauranteed.

Trendline Breakdown & Last Wk retraced to some extend - Follows Nifty 50 pattern closely and if Nifty moves up - Havells will strongly move up towards 680-682 levels where it meets resistance.

If 685+ and bullish can move upto 746/ 790/ Trend Res 848.

If moves down from 650 towards 630 levels -- no fresh shorts or longs suggested .

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