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Positional View For Educational Purpose Only. Please Consult Your Financial Advisor Before Taking Any Decision. I am not SEBI Registered Financial Advisor.
Expecting a gap fill soon!
WELSPUN INDIA HAS FORMED DOUBLE BOTTOM PATTERN AND VOLUMES ARE MORE ON RISING DAYS AND LESS ON FALLING DAYS IT ALSO GAVE A SHAKEOUT NEAR BOTTOM AND ALSO BROKEOUT TRENDLINE WHICH MAKES IT A GOOD BET. ONE MORE THING NOT REALTED TO TECHNICAL BUT IT IS FUNDAMENTAL AS THE RUPEE IS FALLING IT IS GOOD FOR WELSPUN AS IT EXPORTS 90% OF IT GOODS TO FOREIGN COUNTRIES AND ...
WELSPUNIN has been in a downtrend since one year. bouncing off the trendline. Currently testing the trendline again, for a breakout/reversal
Welspunin made a doji weekly and monthly timeframe right at the lifetime 618FIB and the point of gartley completion.
Stock bouncing back from major support . lookout for 100++ in 8-12 months of times
long with a view of t185 T2 99 before it really fly to space.
Analysis is given in Chart.
Looks like it has good rectangle formation, at this price it has a support, i am not a technical guy and i am trying to draw and predict, correct me if i am wrong, enter if next trading reverse (EOD)
Welspun India Looking good on Monthly. If breaks out, can make a move of 65-70 points from break out!
1) IF IT FORMS THE GREEN CANDLE & MOVES UP, THE UP TREND LINE & SUPPORT LINE ARE VALIDATED
2) IF IT FORMS RED CANDLE AND MOVES DOWNWARDS AND TAKE SUPPORT, THEN THE 2ND SUPPORT LINE WILL BE VALIDATED
3) FOLLOW THE PRICE ACTION TRADING STRATEGY
4) MINIMIZE THE LOSS
Levels mentioned on the chart.
our target 2 times more than our risk.
Grab this 75-73
Fast & Furious move above 80
SL below 68 for 90-100 first.
Above that trail with trailing SL
Share has formed Marubozu pattern (Shown in black box). Relative Strength Index is also supporting Price Rise (Shown by blue lines and black arrow). All these things indicate that share price will go up.
All is in the charts.
Buy at Current Price.
1st Target - 78.10
2nd Target - 83.12
SL - 67
Reversal could be on cards as the scrip to managed to thrice, pullback from crucial support level in past 3 months
TP = 85, 94 Managing to break the resistance level 2 as earlier if nifty supports beyond 9600, bulls should manage to pull near 52 week highs
William% also in oversold stage
Welspun India Long