Havells India, a leading electrical equipment company, is presenting a promising swing trade opportunity.
Reasons are listed below :
Target - 1900 // 2100
Stoploss - weekly close below 1450
Disclaimer :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
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Reasons are listed below :
- Breakthrough of Resistance Zone: The 1450-1500 zone has historically been a strong resistance area. The price has broken through, retested, and is now again breaking previous higher highs, indicating a potential upward momentum.
- Bullish Marubozu Candle on Weekly Timeframe: A Marubozu candle, which lacks upper and lower shadows, shows strong bullish sentiment, suggesting continued buying pressure.
- Breaking a Long Consolidation Phase: Havells India has emerged from a consolidation phase that lasted over 2.5 years, indicating a potential bullish trend ahead.
- Trading Above Key Moving Averages: The stock is trading above the 50 and 200 exponential moving averages on the weekly timeframe. This is a strong indication of a prevailing upward trend.
- Higher Highs: The stock is forming higher highs, suggesting that it is in a consistent uptrend and may continue to climb.
- Trading at All-Time High: While this indicates a bullish outlook, it is important to monitor the price action for any signs of exhaustion or potential pullbacks.
Target - 1900 // 2100
Stoploss - weekly close below 1450
Disclaimer :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights