Havells India Limited (HAVELLS) Stock - Complete Technical Analysis - Sep 03, 2024

Havells India Technical Analysis: Bullish Trends

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

In today's analysis of Havells India Limited (HAVELLS), we observe a mixed technical picture. Currently trading at 1,902, the stock shows a bullish trend with the presence of a Bullish Harami pattern, indicating potential for further upward movement.

Support and Resistance Levels:

Support: Key support levels are seen around 1,790 and 1,681.62, based on classic and Fibonacci pivots. These levels are crucial for monitoring any potential downtrends.

Resistance: Resistance levels are identified around 1,982.83 and 2,066.32. These levels may pose challenges for the stock if it continues to rise.

Technical Indicators:

MACD: The MACD line is currently above the signal line, suggesting a bullish trend.

RSI: The Relative Strength Index (RSI) is in a neutral zone, reflecting neither overbought nor oversold conditions.

ADX: The ADX shows a moderate trend strength, indicating that the current trend may not be very strong.

Stochastic: Both the Stochastic %K and Stochastic RSI are in the neutral range, signaling indecision in the market.

Moving Averages: The price is above several key Exponential Moving Averages (EMA) and Simple Moving Averages (SMA), indicating a strong uptrend.

Ichimoku Base Line: The price is above the Ichimoku Base Line, which is a positive sign for the ongoing trend.

Volatility and Trend:

ATR: The Average True Range (ATR) suggests moderate volatility, which can impact potential price swings.

Overall, Havells India Limited appears to be in a bullish phase with strong support and resistance levels outlined. Traders should watch for price action around these critical levels and consider the mixed indicators as part of their strategy.