Havells India Limited has broken through the
floor of a rising trend channel in the medium
long term. This indicates a slower rising rate
at first, or the start of a more horizontal
development. It also gave positive signal from
the inverse head and shoulders formation at
the break up through the resistance at 1217.
Further rise to 1372 or more is signaled.
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The
stock has broken a resistance level in the
short term and given a positive signal for the
short-term trading range. The stock has
broken up through resistance at rupee 1325.
This predicts a further rise. In case of
negative reactions, there will now be support
at rupee 1325. The stock is overall assessed
as technically positive for the medium long
term.