 "Derivative strategy on Havells by HDFC Securities")
Buy HAVELLS
July Future at Rs 794 | Stop loss of Rs 785 | Target Rs 810
July Future at Rs 794 | Stop loss of Rs 785 | Target Rs 810
Rationale:
Long build up is seen in the Havells Futures’ yesterday, where we have seen sharp rise in Open Interest with price rising by 0.8%.
Stock price gave bullish breakout on the daily charts by closing at all time high with higher volumes.
Stock price is making higher top higher bottom formation on the daily and weekly charts.
Oscillators and Momentum Indicators like RSI and MACD showing strength in the stock on the weekly charts.
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