HAVELLS : Idea for Future/Options Trade

HAVELLS INDIA LTD (HAVELLS): Potential Bullish Reversal 🚀

Price Action Overview:

Current price: ₹1,708.25, hovering near a critical demand zone between ₹1,700.30–₹1,708.25.
Previous swing low highlights strong buying interest in this region, where prices have historically reversed.
Consolidation observed within the retracement zone, indicating potential for a bullish reversal.
Key Levels:

Demand Zone: ₹1,700.30–₹1,708.25
A critical area where buyers are likely to step in.
Price action in this zone will determine the trade direction.
Stop Loss: ₹1,692.10 (Hourly close below invalidates the demand zone).
First Target Zone: ₹1,799–₹1,816 (Resistance area likely to trigger profit booking).
Trading Strategy:

1. Entry Plan:
   
   Look for bullish confirmation patterns such as a bullish engulfing candlestick or hammer near ₹1,700.30–₹1,708.25.
   
2. Stop Loss:
   
   Place a stop loss at ₹1,692.10 to limit downside risk.
   
3. Profit Target:
   
   First target: ₹1,799–₹1,816, offering a strong risk-reward ratio.
   

Risk Management Tips:

Avoid chasing prices; wait for stabilization within the demand zone.
Stick to predefined stop-loss levels and never risk more than 2% of your capital on a single trade.
Monitor broader market sentiment, as sector performance can influence price action.
Potential Risks:

A breach below ₹1,692.10 could lead to deeper retracement or continuation of the downtrend.
Market-wide trends or adverse sectoral news may impact the stock's movement.
Disclaimer:
This analysis is for educational purposes only. I am not a SEBI-registered analyst. Please perform your own research or consult with a financial advisor before making trading decisions.

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