After a sharp correction, Havells has recovered to form a W on the daily timeframe. A look at volumes indicate that the counter has been attracting buying interest at lower levels as is evident from above average volumes. On 18th Feb, there was a perfect reversal candle followed by a strong green candle confirming a reversal. Presently, the stock is at a trendline resistance. If it sustains above that, the stock is in for a good upmove. Market Facilitation Index is also indicating a reversal and a confirmation pattern has formed. Gann square levels to be used for identifying levels to keep SL and to trail SL
Commentaire:
While the world around it has been collapsing, the stock has been on a bull run of its own...If it sustains above 643, the stock is headed to 680-687 zones