Hi Everyone
This is the chart of Welspun Enterprise
The price is in consolidation wait for breakout and enter for a good profit.
entry above
125
Targets:
140
200
Welspun is the good one the from textiles ,This stock as per my knowledge and technically give good results in short term and long run also.
technical reason: in weekly time frame take a support from 0.618 (122) fib retracement, in daily time frame take support with trendline and form the good demand zone 122-116,
fundamental: this one fundamentally also good and...
Welspun India looks good buy at 155 - 150 levels for the marked targets on the chart in the short term.
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InvestPro India Team
WELSPUN INDIA
Good uptrend.
Alert: Overbought Zone
We might see a slight fall can buy on Dips - strong support 143 level
1st Target: 162
2nd Target: 165
Since its broken its all time high - We need to wait and see if its a false alert
Welspun India technicals and Fundamentals looks good on both fronts, and the company can see subsequent growth in revenues in near future bcoz of govt supporting policies to textile industries as well as ease in covid restrictions will directly benefit Welspun, as it's a good chunk of revenue, comes from Hospitality Industry.
I have mentioned the Target Price of...
NSE:WELSPUNIND
Market already take support on the support line itself and showing green candle which is clear indication of taking a position of long. Profit target will be 169 to 170 rupees and stop loss order you can put on 119 rupees.
Welspun India - Long
Buy : ₹ 106 - ₹ 102.85
Target: ₹ 110, ₹ 115, ₹119.60
Support: ₹ 96.30 , ₹ 102.85
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**Disclaimer:
I am NOT a SEBI registered consultant/Advisor....
Symmetrical triangle pattern generated in WELSPAN CORP LTD.
Buy above 150
Targets 200-220
Note that this analysis is only for educational purposes, Feel free to give your views on my analysis
Riding the Parallel Channel , it is close to the bottom of the channel where a reversal is expected.
Support of 50 MA just under it.
Expected : MACD crossover and RSI breakout and Price breakout.
Apart from this Crude oil chart is expected to give a massive breakout.
Welspun Corp has taken support on lower trend line on the weekly charts. Buying could be initiated in 133-136 zone. It is still trading in a channel. First Target would be 165 (approx 20 percent from current levels) . A weekly close above 165 could take the stock to 185/199 levels.
Simple Price Action Analysis.
Travelling in a channel.
Breakout after a consolidation forming a base however there was a rejection from the top as well.
Since the price is above the Ichimoku Cloud, it is safer to enter only when it closes above 458.
Breakout and retest done. Can be considered for a pullback trade.
Please consult your advisor before buying / selling. I am not a SEBI registered investment advisor
Riding the parallel channel, it repeats a 3 VCP pattern to move higher and the stock is ripe for yet another move.
Just basic price action analysis. Nothing much to add from indicators.
![WELSPUNIND: [SHORT-TERM STOCK] BUY WELSPUN](https://s3.tradingview.com/a/aFYw3wNB_mid.png "[SHORT-TERM STOCK] BUY WELSPUN")
