August 03, 2017
Havells (NSE Cash)
BUY
` 465
` 481 - 485
` 520
14 - 21 sessions
Daily Chart
Source: Falcon (Time: 14:15 IST)
Justification:
Since last couple of months, the stock has been consolidating in a range and has formed a ‘Symmetrical Triangle’ pattern on
the daily chart. In today’s trading session, prices have given a breakout from the pattern with decent volumes. The ‘RSI’
oscillator too, after a consolidation phase, has resumed the positive momentum. The price breakout, supported by the volumes
and positive momentum oscillator is indicating that the stock has resumed its larger degree uptrend. Hence, we are expecting
the stock to move higher in near term. Thus, we recommend buying this stock at current levels and on a correction up to
`481 for a target of `520 over the next 14 - 21 sessions. The stop loss should be fixed at `465.
Ruchit Jain
022-3935 7600 Extn: 6554
[email protected]
1
August 03, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
Website: www.angelbroking.com
Email: [email protected]
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