July 20, 2016
Havells (NSE Cash)
BUY
` 351
` 366 - 363
` 390
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 10:30 IST)
Justification:
Since last couple of months, the stock has been consolidating in a sideways range. We are reading this
consolidation as time correction within an uptrend. The ‘SuperTrend’ indicator is in ‘Buy’ mode and has acted
as support in this consolidation phase. The ‘RSI’ oscillator is indicating positive momentum in near term. As
the volumes in today’s session are good with upmove in prices, we are expecting resumption of the uptrend
in the stock. Thus, traders are advised to buy the stock at current levels and on declines up to `363 for a
target of `390 in next 14 - 21 sessions. The stop loss for the trade set-up can be kept at `351.
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July 20, 2016
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Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552/54) Website: www.angelbroking.com Email: [email protected]
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