Havells - The Ball Is In Bull's Court

Havells Ind (CMP: 631.4) : The stock is displaying a positive outlook on the above weekly chart. The stock has tested the rising channel line support level & bounced back with strong bullish candle on the weekly chart. And and addition, on the daily chart; the RSI indicator has showed a multiple leg of positive divergence with its price, which is the sign of strength. If the resistance level of 637 breaks, then the stocks will rise towards 705 - 741 levels which is 50% - 61.8% retracement of last falling leg. Channel line support level placed at 589.         

Recommendation: Traders can buy at CMP (631.4) to 625 levels for the target of 705 - 741 levels with the stop loss of 589 (closing basis).