HAVELLS IN­DIA .......................... BUY ...................... CMP ₹506.95

Dalal Street Investment Journal - - EQUITY -

The stock of Havells In­dia is cur­rently trad­ing at ₹506.95. Its 52-week high/low stand at ₹525.40 / ₹303.60 which were made on May 11, 2017 and Novem­ber 21, 2016, re­spec­tively. Con­sid­er­ing the daily time frame, the stock formed 8 points sym­met­ric tri­an­gle and there­after wit­nessed con­sol­i­da­tion near the eighth point, where prices trailed near ₹496 level for nearly 10/11 trad­ing ses­sions. Re­cently, the stock gave a break­out on a clos­ing ba­sis with huge vol­umes and 14-pe­riod RSI quot­ing at 64 de­pict­ing good mo­men­tum.

The stock holds mul­ti­ple re­sis­tances at ₹510-511. In case the stock breaks out of ₹511 on a clos­ing ba­sis, it may wit­ness an up­ward rally. Thereby, we rec­om­mend a BUY on the stock for a tar­get of

₹535, fol­lowed by ₹555 and with a stop loss of

₹484.

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