Welspun India Ltd is one of the largest home textile manufacturers in the world. Reduced debt recently. Promoter holdings are very high. Zero promoter pledge and reducing debt company. Technically looking good. Good movement expected.
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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"Delivery Idea 14-07-23
WELSPUNIND (CMP: 102)
Buy Price: 100
SL Below: 92
Target: 116"
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WELSPUNIND | SWING TRADE | BULLISH MOMENTUM
CONFIRMATION FACTORS
1) Pole and Flag formation
2) 20/200 EMA Crossover
3) Market structure breakout and good consolidation happening
Long Welspun above 275 after the BO of resistance zone. If stock sustain then we can see the 300+ levels in the stock. The stock is going for the life time high. On all time frames RSI above 60 is the bullish sign.Tis is for your educational purpose only.
about company
• Welspun India Ltd (WIL), part of the $2.7 billion Welspun Group, is a global leader in Home Textiles, supplying to marquee global retail and hospitality brands. Our state-of-the art manufacturing facilities in India produce globally benchmarked products, driven by our differentiation strategy based on Branding, Innovation and Sustainability
•...
Wait for the price consolidation to break above 158.
Breakout above 171 may trigger upward momentum.
To be cautious if price falls below support zone of 132 and 126.
Note: Chart analysis for educational purpose, not a recommendation for buy or sell.
