CEOShriram

Welspun India Up-Flag Break Out

Long
NSE:WELSPUNIND   WELSPUN INDIA
73 views
1
Welspun India was in a downtrend for more than 3.5 years from June 2016. The counter tested its bottom in March 2020 and
reversed. After rallying up till the month of October 2020 the counter went into a consolidation of more than 4 months. This prolonged consolidation was broken upward on a weekly chart on 12th March 2021 with a wonderful volume support. The weekly breakout candle closed at the level of Rs .81. I estimate the price target of Rs .112 and suggest the stop loss at Rs .75 on weekly basis. The stop loss should be trailed using the EMA lines and the profit be booked on a downward crossover by 5 EMA to 26 EMA .

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out