Short term inverstment idea.
WELCORP is in great value range i.e. below 69.45 till 51 slippage below 51 seems to be very difficult bt not ruled our - considering it is now trading with 5% circuit band with low volumes can help restrict further price erosion NOTE: One should consult their financial advisor before making any decision to buy or sell equities
looks good for the dips , 196-194 good buy , further upmove to 230/250/280
Price action is giving bull flag break out. Buy above 138 with the stop loss of 134. Targets are 143 and 147.
WELSPUNCORP long idea levels mentioned in cart
Positional view on Welcorp is buy from CMP 146 for target 175 and 200
Forming round bottom pattern on weekly charts, has Supply Zone near 146 levels, once it breaks, has potential to reach 220 levels within few weeks
Shorts if suits your plan & purse err...Risk !
Welspun has been trying to break out from the current level twice now, but this time the volumes are in favour of the textile stock. RSI and MACD also showing momentum. Can it break out? Buy above 85. SL 82.5 As @bearishbull pointed out rightly, there is a hidden bullish divergence in the RSI and MACD levels as well.