Since last 4 months, Havells trading in parallel channel range. Expected breakout of this channel in upcoming trading session. If it give breakout of this parallel channel then we can go for long above 1090 for target of 1140 and then after 1200+ for short term period.
Possible Trade:
Buy Havells Above 1090
Stop loss - 1050
Target 1140 1200+
Havells has given a bullish flag & pole breakout in weekly chart with decent volume.
Can go for long with an easy target of 1200 which is the immediate resistance with a stop loss of 1000. If crosses 1200, next target will be 1300.
P.S. - This is not a trade recommendation. Do your own analysis before taking any trade.
HAVELLS FORMED A VERY GOOD BULLISH PINBAR AT THE SUPPORT AREA , CAN GO LONG HERE FOR MIN 8% PROFIT
IF RSI HOLD'S ABOVE 45 THEN IT WILL DOUBLE CONFIRM THE MOVE ,,
BUY ABOVE - 975-1000
TARGET -1070
Alreday give you idea about havells now forming good pattern and taking bounce from support
Stricly Place SL below support zone marked in Chart
Strong fundamentals , Hold tight it will surely gives you 20%+ returns in short time span
thank you.
r : R ratio is 1 : 2
Rest as per CHarts
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
=======
I use shorthands...
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice
havells :
trade set up :
1. buy with stop loss as 1010 on closing basis
for targets : 1082/1133/1178/1125 +
technical for buy :
1. triangle
2. breakout retest and bullish engulfing formation
note : breakout has happened at upper trendline resistance and price retested the same , now moving up with good price action to reconfirm the bullish structure .
![HAVELLS: [ Positional ] HAVELLS Long Bet](https://s3.tradingview.com/v/v2kswdTL_mid.png "[ Positional ] HAVELLS Long Bet")
