An on neck breakout is confirmed on the weekly charts of NSE:WELCORP
One can create a fresh position in the scrip near its cmp 316 or below with a stop loss of 308 for a target of Rs. 332/348/364
Exit the position if the stop loss is triggered on WCB.
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This script is brekaout from the pivot level of the weekly uptrend channel from the strong weekly resistance of 343 and closing with bullish engulfing. It will reach the target of 374
This is follow-up on Welspun Corp. Can check link to related ideas.
Target 1 achieved. Gain of more than 27%. Target 2 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered....
📊 Details
Welspun Corp Ltd. is one of the flagship companies of Welspun Group. It is a leading manufacturer of large diameter pipes globally, offering a one-stop solution for all line pipe related requirements with its wide range of high grade line pipes. These pipes are used for offshore and onshore transmission of oil, gas and water. It is among the Largest...
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.
SWING TRADE OPPURTUNITY
Cup and handle pattern break out as clearly shown in the chart. And stock is trading at its all time high, therefore it is irrelevant to give targets.
It is a good move to capture in the market as nifty small cap 100 is also showing very significant breakout and this stock is included in that index.
Neat clean clear breakout at All time high with weekly closing. Fundamentals Looking good with increasing sales and margin. Positional Buy above 296 with the Target of 321, 380 and 421 with SL of 257 on closing basis.
Welspun Corp formed a 'cup & handle' pattern in the day chart breaking its all time high. The depth of the cup from a common high is 37.2% and that ladies & gentlemen is the potential the stock can rally upto post breakout.
Technically the chart is strong, but don't forget to have your own research.
Cheers :)
Welspun Corp is a globally recognized leader in the manufacturing and supply of large-diameter pipes for the oil and gas industry.
The company specializes in producing high-quality line pipes, including submerged arc welded (SAW) and helical submerged arc welded (HSAW) pipes.
Welspun Corp has a strong global presence, with manufacturing facilities and sales...
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.
Welspun Corp formed a cup and handle pattern in monthly time frame.
Red line marked in the chart should break for good movement. Targets are height of handle and height of cup respectively.
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Happy Trading…
Good chart
Can buy this stock if get in the range of 217-218
For maintaining risk to reward ratio
Target 224/228
Stop loss 214.5
I am just representing my views
For educational purpose only.
