Sell Havells India | Target ₹ 594 -588 | Expected Profit 5-6%

  • Stock Market Analysis
  • Editors Pick

RECOMMENDATION

Sell Havells India - Recommended by Goodluck Capital

COMPANY OVERVIEW: Havells India Ltd (NS: HVEL ), a fast-moving electrical goods company manufactures, sells and exports industrial and consumer electrical products in India and internationally. The company has a versatile range of products, e.g. Industrial & Domestic Circuit Protection Switchgear, Commercial & Industrial applications, Cables & Wires, Luminaires for Domestic, Commercial & Industrial applications, Modular Switches, Motors, Fans, Power Capacitors, Water Heaters and Domestic Appliances covering the household, commercial and industrial electrical needs.

The company also offers appliances for cooking, brewing and food preparation, etc. Havells owns prestigious brands like Havells, Crabtree, and Standard and has 12 state-of-the-art manufacturing units in India. In Q3FY20, the consolidated revenue of the company dropped 9.93 percent to Rs 2,273.29 crore as against the year-ago period.

RELATIVE PERFORMANCE:

Relative Performance - Havells vs Nifty India Consumption Index

TECHNICAL OBSERVATIONS (WEEKLY):

Havells Technical Analysis - Weekly Chart

  1. Technically the stock had been moving in lower top and lower bottom formation indicating negative bias.
  2. Overall trend and the broader pattern are bearish and reactive pullback might be temporary in nature.
  3. Presently, the stock price has placed near the Upper bound of a sideways range and based on historical price pattern, we are expecting price to fall off from here.

TECHNICAL OBSERVATIONS (DAILY):

Havells Technical Analysis - Daily Chart

  1. The entire corrective price action for the last five months occurred in a well defined Descending Triangle pattern as highlighted in the adjoining chart.
  2. January 20, 2020 - Havells had made a downside breakout of the descending triangle pattern triggering a fresh Bearish trend.
  3. After the breakout, the Support line of the triangle pattern starts acting as a Resistance.
  4. The price action formed a Shooting Star candle with a long higher shadow indicating strong resistance at higher levels.
  5. RSI crossed below 50 - points out the continuation of downtrend in the coming sessions.

ORIGINAL POST

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  • SUSHIL DESALE @SUSHIL DESALE
    Havells is now 1070. I think you have to go school to learn more
    Like 0
  • sairam ganesan ganesan @sairam ganesan ganesan
    thanks sir
    Like 1
  • Arijit Banerjee @Arijit Banerjee
    🎯 Havells target hit at 589 today. Selling 1 Lot Future can make you 33,000/- in just 4 trading days. When you know the definite reason for your recommendation, probability becomes stronger to make profit finally.  Kindly note, the stock recovers just after hitting the 2nd target precisely.
    Like 8
    • Dinesh Thakre @Dinesh Thakre
      @Arijit Banerjee thanks sir
      Like 0
    • Dinesh Thakre @Dinesh Thakre
      @Arijit Banerjee thanks sir
      Like 0
    • Dinesh Thakre @Dinesh Thakre
      @Arijit Banerjee thanks sir
      Like 0
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  • sairam ganesan ganesan @sairam ganesan ganesan
    Good profit sir
    Like 4
  • Virendra Gattani @Virendra Gattani
    super prediction 👍👍
    Like 4
  • Dinesh Thakre @Dinesh Thakre
    good 1 analysis . 👌
    Like 3
  • sairam ganesan ganesan @sairam ganesan ganesan
    u r give any private call
    Like 2
    • Arijit Banerjee @Arijit Banerjee
      Yes. Check our performance page. Booked profit on BANKNIFTY 31200PE & Mindtree today. Postion taken on yesterday and Jan 20, 2020 respectively.
      Like 7
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  • marketvyapar Banijya @marketvyapar Banijya
    it's going against the prediction
    Like 2
    • Arijit Banerjee @Arijit Banerjee
      @marketvyapar Banijya Kindly note, the stock was falling constantly from the recommendation day i.e. Feb 12, 2020. Hope, you didn't take the long position.
      Like 2
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  • Yogesh Sahu @Yogesh Sahu
    👍👍 good analysis..
    Like 2
  • nitin gupta @nitin gupta
    nice one 👌
    Like 2
  • Sanjeev Kumar @Sanjeev Kumar
    don't sell i am losing money
    Like 0
    • Arijit Banerjee @Arijit Banerjee
      @Sanjeev Kumar This is a positional SELL advice, never meant for quick Intraday bucks. To check our accuracy do visit our past recommendations here. Did you notice, if you follow all our recommendations, you would make handsome return in the past two months? Be patient, until the Target/SL hit.
      Like 6
    • Arijit Banerjee @Arijit Banerjee
      @Sanjeev Kumar Hope, you booked the profit today. This time not our recommendation, but your patience would be the winner if you hold this position for three more days.
      Like 0
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  • Sudhir Bhide @Sudhir Bhide
    Yes .theory is correct ,it will work once nifty trend becomes negative
    Like 2
  • deepak thakur @deepak thakur
    Nice
    Like 2
  • Roshan Singh @Roshan Singh
    buy buy buy don't follow these sell tips
    Like 0
    • Arijit Banerjee @Arijit Banerjee
      @Roshan Singh Hello Roshan, if you follow us, you can make bucks!
      Like 0
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  • RAJIB MALAKAR @RAJIB MALAKAR
    buy havells trg 690 -720 all dips is buying zone no sell zone
    Like 0
    • Arijit Banerjee @Arijit Banerjee
      Appreciate your contrary view. Any logic for the same?
      Like 7
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  • Nandy Sura @Nandy Sura
    thank you for your efforts really it's great to learn something from u
    Like 5
  • Gopal Sundaram @Gopal Sundaram
    Super
    Like 2
  • sandip shau @sandip shau
    nice sir
    Like 2
  • sairam ganesan ganesan @sairam ganesan ganesan
    u have any calls please
    Like 0
    • Arijit Banerjee @Arijit Banerjee
      @sairam ganesan ganesan Yes, check our website for Ultra Equity Advice.
      Like 3
    • Rama Muni reddy Katam @Rama Muni reddy Katam
      nice sir, good move on 619 level to low levels .
      Like 3
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