HAVELLS (I)
- HAVELLS (I) currently trading above golden ratio, as long as trades above stock to favor bulls, on upper side will find resistance around 1295 its previous top, once Havells closes above 1295 and holds above then bulls action is expecting.
- Intraday close watch once stock starts trading above 1295, if holds above during market hours then intraday bulls action is expecting.
- Suggested Reading - Helios And Matheson has formed double bottom formation, will favor bulls once closes above.
- As per graph 2, stock is moving in a up channel formation, as long as holds above stock will favor bulls. If stock comes out from it channel formation and breaks on down side then bears will have grip.
- If stock closes above 1295 and moves up then stock will find next strong resistance around 1390 its 161.8% fibonacci retracement.
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