Topic Statement:
Havells India has corrected but is showing early bullish signals, supported by key technical levels and poised for a breakout from its short-term downtrend.
Key Points:
- The price corrected to the 38.2% Fibonacci retracement level, where it received strong support
- It touched the 200-day EMA, which acted as a deflection point, preventing further downside
- Currently moving in a short-term down-trending channel, the stock is likely to resume strong bullish momentum once it breaks above this channel
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Disclaimer
This article should not be interpreted as investment advice. For any investment decisions, consult a reputable financial advisor. The author and publisher are not responsible for any losses incurred by investors or traders based on the information provided.