Buy Havells India, target Rs 565: Reliance Securities
Buy Havells India at a price target of Rs 565 and a stop loss at Rs 479 from entry point.
By ETMarkets.com |
Vikas Jain, Sr. Research Analyst of Reliance Securities has a buy call on Havells India with a target price of Rs 565.
The current market price of Havells India is Rs 496.50.
Time period given by the analyst is one month Day when Havells India price can reach defined target.
Vikas Jain recommended to keep a stop loss at Rs 479.
In a report, the analyst said, "The stock has witnessed sharp decline from its life-time-high of Rs 564.60 on back of result disappointment, where the long-term moving average 100-day SMA saved it from falling further and supported a healthy reversal. Due to recent price reversal from sub-480 mark, RSI reversed from its bull market support zone (i.e. 40-33) and Stochastic has also given positive cross-over."
Havells India, incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 30851.08 Crore) operating in Electric Equipment sector.
The current market price of Havells India is Rs 496.50.
Time period given by the analyst is one month Day when Havells India price can reach defined target.
Vikas Jain recommended to keep a stop loss at Rs 479.
In a report, the analyst said, "The stock has witnessed sharp decline from its life-time-high of Rs 564.60 on back of result disappointment, where the long-term moving average 100-day SMA saved it from falling further and supported a healthy reversal. Due to recent price reversal from sub-480 mark, RSI reversed from its bull market support zone (i.e. 40-33) and Stochastic has also given positive cross-over."
Havells India, incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 30851.08 Crore) operating in Electric Equipment sector.
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