Welspun India has been forming a rectangle pattern for a year. It broke out recently, went up, and then retraced to its old resistance. This is a good chance for me because that resistance could now become support. The company's earnings and sales have been impressive, making it a promising option for a swing trade.
We can target a 12% gain from the current level while setting a 10% stop loss. This setup offers a balanced risk-reward ratio of approximately 1:1 for the trade.
Note- Do your own analysis, I am not SEBI registered.
We can target a 12% gain from the current level while setting a 10% stop loss. This setup offers a balanced risk-reward ratio of approximately 1:1 for the trade.
Note- Do your own analysis, I am not SEBI registered.
Comment:
As per our given Analysis stock has left from its breakout zone and again seems ready to roar. This stock's been dancing to its own tune. It retraced after breaking out, but then came back strong, following its trend line as its crush. It did give breakdown and went out of its trend line for just got few months, but now it's back on track, breaking out once more. It's like watching a comeback story unfold.
Comment:
Almost 30 days of patience paid off today as it achieved our target of a 12% gain.