This stock jumped five percent in the morning, if you invest now, you will be in profit

Mumbai: Shares of Havells are seeing a lot of rally today. It jumped nearly five per cent in morning trade. It formed a strong bullish candle on the technical chart and is trading at higher levels of the day. It has gained a lot in the recent past and has crossed its previous swing high of Rs 1,229. With this, it is only a short distance away from its 20 DMA. It had fallen to Rs 1037.40 in March but after that it has gained 18 per cent in the last few days.

Along with the strong price structure, several technical parameters are also indicating a bullish trend in this stock. Its 14-day period RSI has jumped to 66 and is indicating strength in this stock. Its MACD line continues to rise and is above the signal line and the zero line. This is indicating an uptrend in it. Not only this, the stock is trading above all short term moving averages. Along with the technical parameters, its increasing volumes also indicate strong business activity in it. The volume of this stock has increased for the fourth day in a row and is moving above the average.

The stock has risen over 13 per cent in the past one month and has outperformed the broader market and its peers in the sector. Considering these points, it is clear that this stock can go up further in the coming days. It can reach Rs 1255 which is its 200 day daily moving average. After this it is expected to go up to the level of Rs 1280. There is a good opportunity for swing trading in this. Traders can expect better returns in the near term and should not miss this opportunity.

Are you new to the stock market? Take your first steps with ‘Street Investment Journal’, India’s number one investment magazine broker since 1986. Click here for more information on this.

(Disclaimer: This above is third party content and TIL hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not guarantee, vouch for or endorse any of the above content or its accuracy nor is responsible for it in The content does not constitute any investment advice or solicitation of any kind. Users are advised to check with certified experts before taking any investment decision and take all steps necessary to ascertain that any information and content provided is correct, updated and verified .)