Buy HAVELLS India - Target Rs.1340 to Rs.1390

Sachin Gupta Sachin Gupta 7th September 2023 - 05:09 pm

1. On the daily timeframe, the stock has been forming Inverse “Head & Shoulder Patterns” that indicates trend reversal.

2. The price has sustained above 200-Days “Simple Moving Averages”, which acts as strong support for the stock.

3. The price has also confirmed Falling “Trend-line Breakout” that shows bullish strength for the short term.

4. Moreover, the stock prices are hovering above “Ichimoku Cloud” formation and momentum indicator RSI (14) is trading above 60 levels that suggest the bullish momentum.

5. So based on the above technical structure, we are recommending buy in HAVELLS in the range of Rs. 1275-1280 for the upside target of Rs. 1340 &1390.The stop loss for positions should be placed below Rs.1213.

Recommendation	BUY
Buying Range	1275-1280
Stop loss	1213
Target 1	1340
Target 2	1390

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