Hold Havells, stoploss at Rs 580: Mohindar

Rahul Mohindar of Viratechindia advised holding Havells with a stoploss at Rs 580.

Mohindar told CNBC-TV18, “Havells India has a very strong uptrend when you look at something like a weekly chart or a long-term timeframe. But you have got to remember that it is resting on a strong support level of Rs 580. We have bounced off from that level, moved to this Rs 600-610 level.” “I would really worry if Rs 580-590 starts breaking on a close basis. So as of now it will be too quick to jump to conclusions on this one. You probably might see some good support around Rs 600 mark. So the way I look at it is I would hold on with Rs 580 as a stop loss on Havells,” Mohindar added.