havells india: Stock Radar: Havells India surges after 3-month lull to hit fresh highs; will the rally continue?

Ajit Mishra recommended traders to accumulate the stock in the range of 2,040-2,060 for a target of Rs 2,280 in the next 1-2 months, and a stop loss can be placed below Rs 1,950 on a closing basis.

Synopsis

Havells India Ltd has broken out of a three-month consolidation phase, reaching a new record high in September. Experts suggest that the stock’s rally is likely to continue, with short-term traders advised to target Rs 2,280 within the next 1-2 months. The stock is trading above key moving averages and shows bullish indicators.

Havells India Ltd, a part of the consumer electronic space, broke out of a 3-month consolidation range to hit a fresh record high in September. The chart pattern suggests that the rally is likely to continue.Short-term traders can look to buy the stock for a target of Rs 2,280 in the next 1-2 months, suggested experts.The consumer electronic stock faced some selling pressure after hitting a high of 1,986 on 3rd June 2024. It witnessed a

BY

ETMarkets.com

Sep 26, 2024, 05:00:00 AM IST

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