I would exit stock if I was holding it and reenter after correction.
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst.
If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me...
Welcorp has beautifully formed a cup and handle pattern in weekly time frame.
Currently, stock is trading at the neckline.
Be cautious in this stock as there can be multiple stoploss hunting before genuine breakout.
Targets can be minimum 100 points from CMP for positional and long term perspective.
📊 Script: WELCORP (WELSPUN CORP LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY INFRASTRUCTURE / NIFTY 500 / NIFTY SMALLCAP / NIFTY METAL
📊 Sector: Capital Goods
📊 Industry: Industrial Products
Key highlights: 💡⚡
📈 Script is trading at middle band of Bollinger band (BB) and taking support of middle band which is SMA20.
📈 Already crossover in MACD .
📈...
Chart -> Welspun Corp Daily
The stock has given a close above a resisting trendline and now looks good to test an all-time high again.
The risk-to-reward ratio looks attractive.
CMP: 224
Target: 247
SL: Daily close below 217
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult...
WELSPUN CORP LTD
Trading at Resistance level, buy above 165 levels for short term targets of 172.
Or also looks chart could be form Cup & handle pattern,
for Ultimate targets of 178-185 levels, mid term view.
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Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
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Welspun India looks good buy at 155 - 150 levels for the marked targets on the chart in the short term.
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Happy Trading!
InvestPro India Team
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.
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")
