Pick of the week - Havells India

This week's pick is Havells India. The stock has formed a picture book "Cup and Handle Formation". The stock has formed a rounded bottom in the range of 300 levels to 100 levels. Thereafter the stock has formed a handle for the last 2.5 months in the form a triangle. In the last few trading sessions the stock has seen a surge in volumes which shows that the stock will breakout soon. In the medium term the stock should start its journey towards its target. Generally the height of the pattern is estimated to be the move from its breakout level. If we estimate the current level of 318 to be the breakout zone. The minimum target we get is 520-550 levels. The time frame recommended is 2-3 months. Stoploss is 265.