Havells India Limited Stock Forecast
Havells India Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The Havells India Limited stock price gained 3.78% on the last trading day (Friday, 21st Jun 2024), rising from ₹1,818.30 to ₹1,887.05. During the last trading day the stock fluctuated 5.88% from a day low at ₹1,818.05 to a day high of ₹1,924.90. The price has risen in 6 of the last 10 days and is up by 2.57% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately ₹6.78 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 29.87% during the next 3 months and, with a 90% probability hold a price between ₹2,371.23 and ₹2,614.98 at the end of this 3-month period.
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HAVELLS.NS Signals & Forecast
The Havells India Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹1,836.78 and ₹1,806.55. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -1.06%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Havells India Limited stock
Havells India Limited finds support from accumulated volume at ₹1,828.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹106.85 between high and low, or 5.88%. For the last week the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: ₹1,800.02 (-4.61%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 46 days ago.)
Trading Expectations (HAVELLS.NS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Havells India Limited to open at ₹1,876.67, and during the day (based on 14 day Average True Range), to move between ₹1,835.90 and ₹1,938.20, which gives a possible trading interval of +/-₹51.15 (+/-2.71%) up or down from last closing price. If Havells India Limited takes out the full calculated possible swing range there will be an estimated 5.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,887.30 (0.01%) than the support at ₹1,828.20 (3.12%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Havells India Limited stock A Buy?
Havells India Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.210 Strong Buy Candidate Upgraded
Predicted Opening Price for Havells India Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹1,876.67 ( 0.550%) | ₹1,887.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HAVELLS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,983.52 | 5.11% |
| R2 | 1,942.70 | 2.95% |
| R1 | 1,917.48 | 1.61% |
| Price | 1,887.05 | |
| S1 | 1,835.85 | -2.71% |
| S2 | 1,810.63 | -4.05% |
| S3 | 1,769.82 | -6.21% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,907.30 | 1.07% |
| R2 | 1,889.85 | 0.148% |
| R1 | 1,887.30 | 0.0132% |
| Price | 1,887.05 | |
| S1 | 1,828.20 | -3.12% |
| S2 | 1,640.05 | -13.09% |
| S3 | 1,544.15 | -18.17% |
HAVELLS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jul 28, 2024 | ₹6.00 | 0.318% |
| 2 | Feb 01, 2024 | Feb 01, 2024 | Feb 21, 2024 | ₹3.00 | 0.212% |
| 3 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | ₹4.50 | 0.338% |
| 4 | Jan 25, 2023 | Jan 25, 2023 | Jan 25, 2023 | ₹3.00 | 0.254% |
| 5 | Jun 14, 2022 | Jun 14, 2022 | Jun 14, 2022 | ₹4.50 | 0.401% |
FAQ
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