Havells Weekly Breakout Setup | Targets ₹2,548+ After Trendline

7월 6일

Havells India is showing signs of a falling wedge breakout on the weekly chart, a bullish reversal pattern often followed by sharp upside movement. The breakout appears near ₹1,565–1,612 zone, supported by a trendline breach and base formation.

This setup indicates strength if price sustains above the entry zone, with Fibonacci extensions pointing toward higher targets.

Key Technical Observations:

Pattern: Falling Wedge

Breakout Zone: ₹1,565–1,612

Monthly Target: ₹2,106

Volume: Increasing near breakout, adding credibility

Risk: Pullback toward ₹1,500 if resistance fails

Target Levels (Fibonacci Projections):

Target 1: ₹1,674

Target 2: ₹1,850

Target 3: ₹1,958

Monthly Target: ₹2,106

Extended Targets: ₹2,384 to ₹2,548

Invalidation Zone:

If price falls below ₹1,498 and breaks the wedge support again, the setup weakens.

Bearish Case: Breakdown may lead to ₹1,271 or even ₹1,213 in extreme cases.

Conclusion:
Watch for candle closing above ₹1,612 with volume confirmation. The trendline breakout setup offers a potential multi-leg rally if it sustains.

Disclaimer:
This technical analysis is for educational purposes only. Please consult a registered financial advisor before making investment decisions.

7월 16일

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