Havells India Limited (HAVELLS) Stock - Complete Technical Analysis - Nov 27, 2024

Havells India Stock Analysis: Key Support & Resistance Levels Technical Insights for Traders

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. Havells India Limited (HAVELLS) stock has been in a phase of consolidation, with the current price standing at 1,728.75. This is significantly lower than the 52-week high of 2,106, but still well above the 52-week low of 1,278. The stocks current technical picture suggests a potential for price movement in either direction. Key support is seen near 1,676, and a breach of this level could lead to further downside, potentially testing 1,630. On the upside, resistance is seen around 1,758, and breaking above this could lead the stock towards 1,800 levels.

The RSI currently sits near neutral levels, indicating neither overbought nor oversold conditions. However, the Stochastic RSI indicates overbought conditions, hinting at a short-term pullback risk. The Average Directional Index (ADX) shows a lack of clear trend momentum, so traders should expect periods of consolidation or potential reversals rather than strong directional movement. The MACD is negative, but if the stock begins to rise, watch for potential bullish crossovers. Volatility, as indicated by the ATR, is rising, suggesting that we may see significant price fluctuations in the near term.

For those looking to trade, it's important to keep an eye on key support at 1,676 and resistance at 1,758. A breakout above 1,758 may lead to a rally, while a breakdown below 1,676 could result in further downside potential. Always manage your risk, as the price can move swiftly in either direction.