Company is one of the largest producer in pipe segment. They are in top 3 among line pipe manufacturers globally. It is mainly used in Oil,gas & water industry.
Some of its major clients are
👉Reliance, IOCL, Shell,Total gas, British Gas, BP ,LT,Saudi Aramco, qatar petroleum,etc.
Reasons to consider for buying :
👉 Consistent growth in net profit with increasing...
BUY 123 TO 119
TARGET 150
NOTE :
AFTER THE SIDE WAY NOW IT HAS BREAKED THE RESISTANCE LINE AND CLOSED ABOVE THE RESITANCE LINE .NOW IT IS HAPPENING RETEST MOMENT.AND ALSO WE WANT TO SEE THE PERVIOUS DAY LOW WAS AROUND 124.SO IF PRICE DINT COME DOWN MEANS YOU CAN START BUY.
Currently At strong resistance zone
But if Staying above 121 it may test next important levels of 146-150
Since Market is bullish it can be bought on dips till 107
SL On close below 96
ANOTHER IDEA FROM CONTRACTION AND ACCUMULATION, THIS STOCK ABOVE 120 CAN SHOW 150 LEVELS
NO IDEA OF FUNDAMENTALS BUT TECHNICALLY A DARVAS BOX FORMATION
Welcorp is in consolidation in 100-120 zone.
1. Buy near 100, Sell partially at 120 to play on range
2. Buy above 120 for a target of 165 (with 180, 200 to follow)
Stoploss: 95
WELCORP | Flag & Wedge formation - 52% potentially it can go up side
CMP : 100
SL : 92
Target : 150
Almost 1:6 risk reward setup
(P.S: Its a weekly chart, Small cap, Circuit range is 5% so plan your trade accordingly - Could take time upto Weeks to Months)
WELCORP | Breakout and retesting the zone
CMP : 114
SL : 110
Target : 130 (Calculated based on swing length) it has potential even to go up
1:4 simple risk reward setup, this stock is fundamentally strong one aswell. Even if stoploss hit continue to track the stock for next upmove.
(5% circuit limit stock)
