s.arun.natesh

Does Havells Have it...?

Long
NSE:HAVELLS   HAVELLS INDIA
After a sharp correction, Havells has recovered to form a W on the daily timeframe . A look at volumes indicate that the counter has been attracting buying interest at lower levels as is evident from above average volumes. On 18th Feb, there was a perfect reversal candle followed by a strong green candle confirming a reversal. Presently, the stock is at a trendline resistance. If it sustains above that, the stock is in for a good upmove. Market Facilitation Index is also indicating a reversal and a confirmation pattern has formed. Gann square levels to be used for identifying levels to keep SL and to trail SL
Comment: While the world around it has been collapsing, the stock has been on a bull run of its own...If it sustains above 643, the stock is headed to 680-687 zones

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