nitinshm

Welcorp, Long above 120 for target of 165-180

Long
nitinshm Updated   
NSE:WELCORP   WELSPUN CORP LTD
Welcorp is in consolidation in 100-120 zone.

1. Buy near 100, Sell partially at 120 to play on range
2. Buy above 120 for a target of 165 (with 180, 200 to follow)

Stoploss: 95
Trade active: Entered at 110 in small quantity, Plan is to add more on breakout confirmation
Comment: Added more at 119.7 on 11/27
Comment: Stock taking minor resistance at 130. Down move not supported by volumes yet.
Comment: Up ~30% from entry price. Another breakout with strong volumes, we should see 145 very soon. There is a gap there which may act as resistance.
Stoploss should be trailed to low for today 130.

Comment: Gap at 145 is giving resistance. Book partially.
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