WELSPUN INDIA HAS FORMED DOUBLE BOTTOM PATTERN AND VOLUMES ARE MORE ON RISING DAYS AND LESS ON FALLING DAYS IT ALSO GAVE A SHAKEOUT NEAR BOTTOM AND ALSO BROKEOUT TRENDLINE WHICH MAKES IT A GOOD BET. ONE MORE THING NOT REALTED TO TECHNICAL BUT IT IS FUNDAMENTAL AS THE RUPEE IS FALLING IT IS GOOD FOR WELSPUN AS IT EXPORTS 90% OF IT GOODS TO FOREIGN COUNTRIES AND MAINLY TO U.S SO A REASON FOR THE RALLY.
Comment:
IF BREAKOUTS THEN TARGETS ARE 80/92 AND STOPLOSS WOULD BE 65. RISK:REWARD RATIO = 1:2