Havells India share price has been in an uptrend since the beginning of November. The stock rose 2 per cent on Tuesday indicating that the upmove is gaining momentum. Cluster of supports are there in the ₹1,330 and ₹1,310 region which can limit the downside. A fall beyond ₹1,310 looks less likely now. Immediate resistance is around ₹1,390. The chances are high for the stock to break above this resistance in the coming days. Such a break can take Havells India share price up to ₹1,460-1,475 over the next three-four weeks.
Traders can go long now. Accumulate on dips at ₹1,355. Keep the stop-loss at ₹1,320. Trial the stop-loss up to ₹1,385 as soon as the stock moves up to ₹1,405. Move the stop-loss further up to ₹1,415 when the price touches ₹1,430. Exit the long positions at ₹1,450.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)