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The stock of Havells India has been oscillating largely between ₹1,750 and ₹1,940 since early June. In early August, it rebounded from the bottom of the range at ₹1,750. The upside extended above the interim resistance at ₹1,860 on Friday.
Also, the price is now above both 20- and 50-day moving average levels. This has increased the chances for the stock to appreciate towards the upper boundary at ₹1,940 in the forthcoming sessions. Therefore, participants can buy the stock of Havells India at the current level of ₹1,876 and accumulate if the price dips to ₹1,860.
Place stop-loss at ₹1,840. When the price hits ₹1,900, tighten the stop-loss to ₹1,875. Once the stock touches ₹1,920, move the stop-loss further up to ₹1,900. Book profits at ₹1,940.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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