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.
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.
Nota
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Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.