WELCORP trade ideas
Welspun Corp - Medium term investment viewWelspun Corp has taken support on lower trend line on the weekly charts. Buying could be initiated in 133-136 zone. It is still trading in a channel. First Target would be 165 (approx 20 percent from current levels) . A weekly close above 165 could take the stock to 185/199 levels.
Welcorp, clean chartMoving in a clear ascending channel, longs can be initiated near the lower trendline with a target for the upper trendline.
Welspun Corp - Breakout Retest doneBreakout and retest done. Can be considered for a pullback trade.
Please consult your advisor before buying / selling. I am not a SEBI registered investment advisor
WELCORPWelcorp BO+ Cup & Handle + High Vol + Triangle BO.
Tgt 165/195 SL 130
Abv Chart is For Study Purpose Only
WELSPUN CORP - Tale of 3 VCP'sRiding 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.
WELSPUN CORP looking for a breakoutWELSPUN CORP LTD. has been facing the resistance of 144 since 2012. Above 150 can be considered as a buying opportunity.
WELCORP Buying Opportunity. Wait for entry.Please read this completely before investing.
Past Behaviour:
WELCORP had consolidated between 123 and 101 for a long time before breaking out to 145 odd levels. The swing low before the breakout commenced an uptrend that is more aggressive than the one started in June 2020.
Analysis
The stock is consolidating above the previous consolidating levels and is forming a pennant like pattern. On break out of the pennant,
the stock might face strong resistance at 150.
Strategy
Buy x quantity at 122
Buy x quantity more at 118 (Same qty)
Buying Average: 120 (2x quantity)
Let us assume x = 100, and hence we will have 200 shares at 24,000
Stop Loss: 111
Target: 144, 150, Open (Book half at 144 and trail SL to 138 for 150)
Risk of Capital
Investment: 24,000
Max Loss: 9*200 = 1,800 (7.5%)
Max Profit at 144: 24*200 = 4,800 (20% on investment)
Risk to Reward Ratio: 3:8, roughly 1:3
P.S: I am not a registered analyst so please consult your advisor before investing.
Buy WelspunBuy welspun above 126 for the taarget price of 145 with the SL of 119. Good trade . This is for your educational purpose only.
WELCORP | Another 50% opportunity in this strong companyWELCORP | Another 50% opportunity in this strong company - Similar to our TATACOFFEE, DELTACORP setup
CMP : 122
Target : 110
Target : 182
1:4 risk reward setup
WELSPUN CORPWatch WELSPUN CORP in the coming days. It can move towards 180 levels if it sustains above the descending trendline and break the horizontal resistance levels
long welcorp around 150 if Bullish candle with volumn formationWeekly chart analysis.
Ascending parallel channel formation. support at around 120. Resistance around 150.
If BO at 150 can enter, with target of 184, SL 120.
BuyIt looks ready for levels of 190-200. Upmove will be intact till the time 119 is maintained on daily closing basis.
WELSPUN CORP - short term 20% & Long term 100% returnsCompany 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 margin 💚
👉 Company with strong financials - Low debt, zero pledge, EPS growth, growth in ROE & ROCE.
👉Book value per share is improving consistently for the past yrs
👉 Company with strong moat
👉 CAGR sales growth of 10.5% for the past 10 yrs
👉 Promoters have increased their stake in last qtr💚💚💚(who else know better than promoters)
👉 Company with attractive valuations
👉 Stock pe is very attractive compared to industry and available at attractive valuation.
Future Outlook:
Company is into pipe manufacturing and lot of pipeline projects are under progress/proposed(including govt projects)in Oil & gas sector, water and other sectors, etc which will greatly benefit the stock. Being the largest producer, they can benefit out of it. Also, company is having competitive edge over others.
Technicals:
on Technical front, stock is so bullish and looking strong.
One can buy for a target of 💯 % returns in this counter. Buy on dips.
Disclaimer: All views are personal and its not a recommendation call. Do your own research before investing.
