Havells India is exhibiting a classic breakout-pullback trade setup. The price has breached its significant resistance level at 1460–1470 and retraced back to this zone. It has reversed off the support of the rising trendline, the 50-day moving average, and the support area. Additionally, a bullish engulfing pattern on the weekly timeframe indicates buyer dominance.
Consider buying for a potential rally towards 1600 and beyond to 1750. Maintain a protective stop-loss below 1440. Hold the trade for several weeks to capitalize on the anticipated upward movement.
Consider buying for a potential rally towards 1600 and beyond to 1750. Maintain a protective stop-loss below 1440. Hold the trade for several weeks to capitalize on the anticipated upward movement.
