HAVELLS : Idea for Future/Options TradeHAVELLS INDIA LTD (HAVELLS): Potential Bullish Reversal 🚀
Price Action Overview:
Current price: ₹1,708.25 , hovering near a critical demand zone between ₹1,700.30–₹1,708.25 .
Previous swing low highlights strong buying interest in this region, where prices have historically reversed.
Consolidation observed within the retracement zone, indicating potential for a bullish reversal.
Key Levels:
Demand Zone: ₹1,700.30–₹1,708.25
A critical area where buyers are likely to step in.
Price action in this zone will determine the trade direction.
Stop Loss: ₹1,692.10 (Hourly close below invalidates the demand zone).
First Target Zone: ₹1,799–₹1,816 (Resistance area likely to trigger profit booking).
Trading Strategy:
Entry Plan:
Look for bullish confirmation patterns such as a bullish engulfing candlestick or hammer near ₹1,700.30–₹1,708.25 .
Stop Loss:
Place a stop loss at ₹1,692.10 to limit downside risk.
Profit Target:
First target: ₹1,799–₹1,816 , offering a strong risk-reward ratio.
Risk Management Tips:
Avoid chasing prices; wait for stabilization within the demand zone.
Stick to predefined stop-loss levels and never risk more than 2% of your capital on a single trade.
Monitor broader market sentiment, as sector performance can influence price action.
Potential Risks:
A breach below ₹1,692.10 could lead to deeper retracement or continuation of the downtrend.
Market-wide trends or adverse sectoral news may impact the stock's movement.
Disclaimer:
This analysis is for educational purposes only. I am not a SEBI-registered analyst. Please perform your own research or consult with a financial advisor before making trading decisions.
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