Sell Setup
Havells has probably finished what could be an expanding Flat. Now its in a one hour consolidation. My view is that once the consolidation is done, it should break out to the down side, with a very favorable R/R. The earliest targets are the retest of the previous low. It could still continue to go lower in what looks like the C wave, a possible running flat in the making.
Trade active
Trade active
So Havells has retested the lows at 715 levels. That was the first target. A consolidation/ sideways move can be expected now before the next move starts. Now its time to wait and see what pattern develops here- it could be for a downside or for another up before a down.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.