Lovelesh Sharma
3 Oct • 4:11 PM · SEBI-Registered Analyst
Havells’ needs more than 1 green candle for confirmation
Havells India Limited has closed at ₹1,040 after a 2.4% rebound, but the green candle comes after a steep fall and near a fresh 52-week low. One recovery candle does not repair a downtrend.
The stock is below both key moving averages. The 20-day average at ₹1,106 is falling, while the 55-day average at ₹1,199 remains much higher. This gap shows that short-term price damage is severe and rallies may face supply before they become recoveries.
MACD remains below zero, with the MACD line below the signal line. Momentum is still negative. For the current bounce to gain credibility, Havells needs to hold ₹1,020 and then reclaim ₹1,106. Until then, the move is better treated as a reaction from an oversold area rather than a trend reversal.
Havells operates across wires and cables, switches, fans, lighting, electrical consumer durables and Lloyd appliances. The company’s latest exchange update concerned ESPS grants and vesting, while CARE recently revised its corporate-governance rating to CG1. These are governance updates, not immediate triggers for the chart.
View: ₹1,020 is the immediate support. A recovery above ₹1,106 would be the first technical repair. Until then, the downtrend remains active.

