Havells breaking out 597 levels upside - go long
Facing a strong resistance at 1/3rd retracement level from march lows, the stock bounced back and started a small down trend. Place targets and stop loss using the support and resistance lines drawn.
Havells Repeatedly testing 575 resistance level and 460 support levels. As we can see the pattern and if trend continues, Havells will test 480-460 levels in next couple of sessions ... Pls add to watch list and trade as per trend.
Buy Above 516 TGT 518/ 521 Sell below 482 TGT 480 / 477 Disclaimer : Trade at your own risk
Havells Entry 624 Stop-loss - 610 Target 765 Risk-Reward 1: 8.7 Risk 2.24% - Reward 22% Havells trading at 624, took support around 622-630 zone multiple times in the last 6 months. The primary trend is very strong, so utilizing this dip to get in the trend.
IT IS RESPECTING WEDGE PATTERN AND AS WE CAN SEE TAKEN SUPPORT MANY TIMES ON LOWER LINE IF IT BREAKS LOWER LINE ON CLOSING BASIS IN 15 MINUTE CANDLE TARGET FOR SHORT GIVEN BUT IT SHOULD TAKE SUPPORT AND GO UP TO CONTINUE ITS CURRENT WEDGE PATTERN LONG TARGET IS ALSO GIVEN GOOD LUCK NOTE: TRADE AT YOUR OWN RISK