Technical Analysis of Havells India Ltd. (NSE: HAVELLS)
For study purposes only
Fibonacci Levels:
The stock is consolidating near the 23.6% retracement level at ₹1,949, with a strong resistance zone around ₹1,985. A breakout above this could push the price towards its all-time high of ₹2,169. Key support levels to watch are ₹1,812 (38.2%) and ₹1,702 (50%).
Moving Averages:
Havells is trading above its 50, 100, and 200-day moving averages, indicating sustained bullish momentum. The 50-day MA has been acting as short-term support, with the stock attempting to breach the ₹1,985 resistance level.
Stochastic Oscillator:
The stochastic oscillator is near the oversold zone, signaling a potential reversal. A bullish crossover in the coming sessions could trigger upward momentum.
Trendline & Volume:
The stock has maintained its uptrend, respecting the ascending trendline. A significant volume breakout above ₹1,985 could confirm the next bullish leg, with ₹2,169 as the next target.
Conclusion:
The stock remains in a bullish trajectory, with a potential breakout above ₹1,985 offering a buying opportunity. Immediate support lies at ₹1,812, with any break below signaling caution.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.