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.
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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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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.
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.
Disclaimer :- This is not any buy or sell recommendation. This is just my view on this counter. Kindly consult with your financial or investment advisor before investing. Thank You !!
There is a breakout generated in WELENT with good volume support.
Next Levels as Below :-
1st Resistance :- 140.00
2nd Resistance :- 175.00
3rd Resistance :- 195.00
Support...
ANOTHER IDEA FROM CONTRACTION AND ACCUMULATION, THIS STOCK ABOVE 120 CAN SHOW 150 LEVELS
NO IDEA OF FUNDAMENTALS BUT TECHNICALLY A DARVAS BOX FORMATION
![WELSPUNIND: [SHORT-TERM STOCK] BUY WELSPUN](https://s3.tradingview.com/a/aFYw3wNB_mid.png "[SHORT-TERM STOCK] BUY WELSPUN")
