Positional trades should buy into this counter for a target of Rs 154 with a stop below Rs 129 on a closing basis.
Moneycontrol Contributor
@moneycontrolcom
Mazhar Mohammad
Welspun Corp appears to have posted a short-term bottom around Rs 130 levels as it is moving in a narrow range for the last 6 sessions afterretracing 62 percent of its rally from the lows of Rs 116–164.
Hence, on resuming the upward move from the said base it can eventually test its interim top of Rs 160 levels. Hence, positional trades should buy into this counter for a target of Rs 154 with a stop below Rs 129 on a closing basis.
First Published on Jan 14, 2019 11:22 am
