After making a Double bottom (W) on the charts, it had broken out. but it came back to retest the breakout level. after sustaining it today there is a possible breakout for a target of 820.
HAVELLS (Havells India Ltd) BUY ABOVE 800
Last many days Stocks is closing with price rejection from the lower levels and it's standing on a crucial level of 798, and if it crosses above 800 with volumes will be good buying opportunity for a tentative targets of 810, 820 , 830 and 840.
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...
HAVELLS is looking good for a short sell trade with stoploss above the retest range of the channel.
Do hit like and share your opinion in the comments section
