Trendline support took retracement till 100.6(61.8% retracement) lets see closing today
Welspun Enterprises - Swing trade Breakout done with good volumes and restest also done successfully. A good RR Ratio trade.
See how it unfolded on the daily chart.
The stock looks good above 103.3 level for 5-7% further upmove positionally
🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
I AM SUGGESTING TO MAKE A LONG POSTION IN WLESPUN ENTERPRISE, IT IS TAKING A GOOD SUPPORT ON TREND LINE. I HAVE MARK THE ARROWS WHICH IS DEFINING MOVEMENT THANKS
A close above 122 will fuel the move towards 130. Then 142. Load more when it closes above 142 for the target of 177 and 202. Strong order book, stock is poised to do well.
Welspun Enterprises Great Buy Idea
CAN CONSIDER GOING LONG ONCE IT BREAKS 108.5 WITH A STOP LOSS OF 99.5 FIRST TARGET CAN BE 115 THEN 120 AND 130+ PLEASE DO YOUR ANALYSIS
1. Following the channel, the channel was broken twice but the price enters back to the channel. 2. 95 was resistance, but now working as a support 3. Fibonacci retracement 4. Bollinger band support at 95 with ADX, again confirm this level. 5. Down move not supported by volume. 4. 93 level can be sl only if it breaks with high volume.
Welspun Enterprises Strong Order Book BO Retest
Refer to the chart for details Note :Just for education purpose
- Portfolio Stock - Multi-year breakout - Most important Order Book has doubled from 5300 crores to almost 11000+ crores in last qtr giving solid visibility - Oil discovery in JV with Adani is another boon - Negligible debt - Follows HAM model of execution - Combined play of Road and Water Infra - Expecting Multi-fold returns in coming years
Strong Pattern Formation Support at 125, first resistance 140 once that is crossed 175 and then 200.