Havells India Double bottom Breakout
Updated
The idea here is about Havells India:
The company is engaged in the business of Switchgears, Cable and Wires, Lighting and Fixtures, Electrical Consumable Durables.
1. Engulfing candlestick formation on a weekly chart at the time of publishing.
2. Neckline broken on Double bottom pattern with good volume & may retest the neckline.
3. Downtrend Channel broken & retested the breakout.
4. Trading way above 20 & 200 EMA.
5. Kumo Breakout, Tenken-Sen price cross & Kijun-Sen price cross on a weekly chart is Strong for an upward momentum.
6. RSI is at 63.51 on a weekly Chart at the time of publishing.
7. MACD Way above signal line on weekly chart.
8. Hull Moving Average is a Buy Signal on Weekly & monthly chart and sell on daily which indicates the retest of neckline retest.
9. Enter long or wait for retest of neckline support. In, any case keep a price alert.
Projected targets as per double bottom & Downtrend channel provided in the chart.
Stop Loss: provided in chart.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
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Cheers.
The company is engaged in the business of Switchgears, Cable and Wires, Lighting and Fixtures, Electrical Consumable Durables.
1. Engulfing candlestick formation on a weekly chart at the time of publishing.
2. Neckline broken on Double bottom pattern with good volume & may retest the neckline.
3. Downtrend Channel broken & retested the breakout.
4. Trading way above 20 & 200 EMA.
5. Kumo Breakout, Tenken-Sen price cross & Kijun-Sen price cross on a weekly chart is Strong for an upward momentum.
6. RSI is at 63.51 on a weekly Chart at the time of publishing.
7. MACD Way above signal line on weekly chart.
8. Hull Moving Average is a Buy Signal on Weekly & monthly chart and sell on daily which indicates the retest of neckline retest.
9. Enter long or wait for retest of neckline support. In, any case keep a price alert.
Projected targets as per double bottom & Downtrend channel provided in the chart.
Stop Loss: provided in chart.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
Do you like my TA & ideas!!
Want to keep yourself updated with current market action? Then don’t forget boost & to subscribe for more analysis. Do leave your valuable feedback & comments for any improvisations.
Cheers.
Trade active
Broken Out of Neckline with retesting of support zone.
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Disclaimer
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