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
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.
Welspun Corp. engages in the manufacture of welded line pipes. It provides Longitudinal Submerged Arc Welded, Spiral Helical Submerged Arc Welded, and Electric Resistance Welde pipes; and High-frequency Induction Welded pipes. It also provides specialized coating, double jointing, and bending facilities. The company was founded on April 26, 1995 and is headquartered in Mumbai, India.
WELCORP
