Comments
The upmove in the stock of Welspun Corp has gained momentum. The stock has surged about 6 per cent on Monday thereby ending the sideways consolidation that was in place since mid-July. It also indicates that the upmove has resumed. Immediate support is at ₹680. Below that, ₹668 is the next important support. Welspun Corp share price can rise to ₹735 in the next couple of weeks.
A break above ₹735 can take the share price further up to ₹765. Traders can go long now at ₹696. Accumulate on dips at ₹682. Keep the stop-loss at ₹665 initially. Trail the stop-loss up to ₹701 as soon as the stock moves up to ₹710. Move the stop-loss further up to ₹718 when the share price goes up to ₹726. Exit the long positions at ₹735.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.