After the formation of a low near 986 area , stock prices has risen up in a three wave fashion , which should be taken as a corrective move. Look for short opportunity near 1075-80 area having a Stop loss of 1090 for a minimum target of 980.
Sell if sustains below 1000 for the targets of 974, 952, and 931 until 1030 is saved on the upside.
High-risk traders can keep the SL for 1045.
To motivate me, Please like the idea If you agree with the analysis.
InvestPro India Team
The spike early in the month from 725 levels should have touched the targeted 850. However it reversed from 844 !
The jump came in after a bumper results.
Now it should reverse all the gains of early November.
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.
Havells forming M pattern and Butterfly harmonic pattern...
If you are reversal Trader...wait for price come to possible demand zone...
If your trend trader follow the chart marked ...
Do your own analysis...SL is god...follow MM RM...