HAVELLS

8 May

• The stock moved past its prior all time high of 1540 in February.
  
• The Monthly MACD also crossed above its Trigger line, confirming resumption of long term up-move.
  
• In the past, the stock witnessed at-least 70% gains after MACD crossing its trigger line, so that gives us a minimum expectation of Rs.2600.
  
• Bullish outlook remains intact as long as price is above 1500.