HAVELLS : Connecting for recoveryHavells India Ltd. (HAVELL’S) - Bullish Reversal Zones & Targets
Key Levels and Zones :
Current Price: ₹1,649.90 (-₹26.50, -1.58%)
Support and Buying Zones:
Extended Retracement Zone: ₹1,574.50 - ₹1,632.95
Golden Retracement Zone: ₹1,629.30 - ₹1,683.35
Target Zones:
First Target Zone: ₹1,821 - ₹1,839
Second Target Zone: ₹1,994.00
Stop Loss: ₹1,594.55
Chart Analysis :
Wave Patterns: The chart showcases an ABC correction pattern suggesting a potential bullish move.
Wave A: Initial decline marking the first corrective phase.
Wave B: Temporary upward movement.
Wave C: Anticipated upward rally within the target zones.
Volume Activity: High trading volume at 548.91K indicates significant market interest.
Trade Plan :
Entry Point:
Long positions can be considered within the extended retracement zone (₹1,574.50 - ₹1,632.95) or the golden retracement zone (₹1,629.30 - ₹1,683.35).
Targets:
First Target Zone: ₹1,821 - ₹1,839.
Second Target Zone: ₹1,994.00 for extended gains.
Stop Loss: Place a stop loss at ₹1,594.55 to manage downside risk.
Conclusion :
The daily chart of Havells India Ltd. identifies critical support and resistance levels, creating a robust framework for strategic trading. Traders can capitalize on potential bullish reversals for profitable opportunities while maintaining a favorable risk-reward ratio.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always perform your research or consult with a financial advisor before investing.
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Havellslevels
HAVELLS : Analysis HAVELLS traded in one range in second half.
its very important price action levels. wait for breakout or breakdown and follow trend. Entry exit will be decided based on tomorrow opening
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing