NSE: HAVELLS - A SUPPORT OF DOUBLE BOTTOMNSE: HAVELLS has been in an uptrend since June-July 2020 after a heavy fall due to COVID-19. The DOUBLE BOTTOM formation is observed in the daily and weekly charts. The analysis has been done from macro to micro timeframe (Monthly --> Weekly --> Daily). The current view on the stock is to go long with given levels.
I suggest you do your own analysis before investing. This is my perspective based on my understanding.
Trade Status = ACTIVE
Trade ideas
Post DIWALI stocks! is HAVELLS heading towards CORRECTION ? Havells chart is providing lots of hint. Its suggesting an imminent correction looming over Havells. Also this stock is major beneficiary of Diwali Consumer Durable Sale rush. Just waiting for ZETA SCANNER to provide sell signal and buy pputs and hold till the next buy signal comes or else it swells in good profit.
HAVELLS, MOMENTUM TO CONTINUE ON BREAKOUT (CHART# 356)HAVELLS is respecting its previous high peak from Jun 2019. After good momentum move in last week, it is taking some rest at 815-825 levels. Once it breaks 830, it will continue momentum.
Weekly chart view
Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. Reach out if you wish to learn powerful technical analysis based on simple price action.
Thanks
Piyush Gupta
Example of Expanding Triangle Howdy Traders,
we already know that Triangle occurs in Corrective waves and Diagonal occurs in Impulsive waves.
Their are three type of Triangle
1)Expanding Triangle
2)contraction Triangle
3)barrier Triangle
Their are 2 types of Diagonal
1) Leading Diagonal
2) Ending diagonal
---------------------------------------------------------------------
This is the example to expanding diagonal
Rules :
wave C,D,E each moves beyond the end of the preceding same - directional sub wave.
sub waves B,C and D each retrace at least 100% but not more then 150.75 % of preceding sub wave.
sub waves B, C, D usually retrace 105 to 125 % of the preceding sub wave.
No sub wave has yes been observed to subdivide into a triangle






















