Havells - Analysis for Intraday and Swing Trading

Havells is the stock that we are going to analyse today based on Open Interest and Change in Open Interest for swing as well as Intraday Trade. We also check the Trend Cycles of it. Before this, we have analyzed Axis Bank : You can check here.

Havells  Option Front :
Havells has given closing at 486.80 on 15^th May 2020. Highest call open interest is at 550 strike price, followed by 600 and highest Open interest at put side is at 490 strike followed by 480.

Trading Range Of Havells 

Now time to find out the trading range of the Havells. For this purpose, we need to look for the highest call OI Row and Highest Put OI Row on the option chain of the Havells. Trading range seems to be 440 to 550.

1. Highest Call at 550. 

2. Highest Put at 490. 

1. Pivot Strike at 490.

Highest call acts as the highest resistance and highest put will act as the highest support for the stocks.

Trend Cycles

 

Havells Trend Cycles

Conclusion:

Havells is near at very important support that is 490. If it sustains below 490 then some move towards 465 and 450 can be seen. And if able to sustain the support at 490, we can see some move towards 520 and 550. 

This may take 6 to 7 trading days to happen. In last three day, Havells has given short-long unwinding cycles. If we get another short then 470 will be on the cards otherwise 510 and 520 can be seen. These all depends on the pivot level 490 as it is the make and break level for the Havells.

Disclaimer: The analysis has been prepared for informational and educational purposes only. It is not and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.

 You can check here Daily Nifty and Bank Nifty Analysis.

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