Welspun Corp Limited
Welspun Corp Limited appears to be an excellent long-term investment, since the stock has reached an all-time high and is continuing to increase.
Please review the Welspun Corp Limited weekly chart and understand its structure. Welspun Corp Limited, as shown on the chart, is a good buy in the 620-630 zone, and it has done well so far, with tremendous upside potential.
Please refer to the Welspun Corp Limited weekly chart. Following its breakout from the 620-630 zone, the stock is now trading above horizontal resistance and continues to rise. As indicated in the chart, Welspun Corp Limited is currently in strong demand, with a price of 625. The predicted growth period ranges from 780 to 800, as seen in the chart below.
- Welspun Corp Limited is an excellent long-term investment opportunity because it experienced a reasonable breakout at 620-630 and is still increasing.
- Welspun Corp Limited appears to be in a solid position on the chart, with room for further increases to 780 and 800.
- As of now, the best moment to buy this stock is between 620 and 630, as the risk-reward ratio is ideal for cash transactions.
- The chart reveals that the stock has broken out of an ascending triangle pattern, with a target price range of 780-800.
Please refer to the Welspun Corp Limited weekly chart for reference. The daily chart shows horizontal resistance, a breakout, and demand in the 620-630 range, with the stock increasing in reaction to strong demand in that area.
Please take note of the horizontal resistance and its breach, as the stock reached a new all-time high today, indicating an outstanding buying opportunity at the current price. So far, the stock has followed the chart's upward trend, attaining its targets of 780 and 800.
Welspun Corp Limited emerged from the rising triangle, with the pattern's most recent objectives ranging from 780 to 800. The ascending triangle is a chart pattern used for technical analysis. Price movements create a horizontal line at the swing high and a rising trend line at the swing low. The two lines form a triangle.
Investors may seek a long-term purchase opportunity in the 620-630 range and capitalize on any dips that occur as the stock is in great demand, perhaps leading to a recovery to the 780 and 800 levels, indicating a positive risk-reward ratio. Use every dip to buy this stock since it has a high upside potential, and every dip is an opportunity to invest.
Investors may buy the stock with cash over time, using a stop loss around 540 and price targets of 780 to 800.
As a trader or investor, I often look for a Volatility Contraction Pattern (VCP), which occurs when price volatility falls before a significant rise, allowing the stock or instrument to achieve huge volume and upside with a quick increase and target hit. For further information on VCP patterns, please go to our website and download the app. We also show how to spot such patterns with great precision.
Welspun Corp Limited's weekly chart indicates both support and resistance. The spot chart depicts each level.
|
Welspun Corp Limited |
Support |
Resistance |
|
Level 1 |
560 |
780 |
|
Level 2 |
540 |
800 |
Company Profile: Welspun World is one of the world's fastest expanding conglomerates. The company is a global leader in line pipes, home textiles, infrastructure, warehousing, oil and gas, steel, advanced textiles, and flooring solutions.
The company has a diverse presence in over 50 countries, with over 30,000 employees and 100,000 owners. Headquartered in Mumbai, production facilities are strategically positioned in India, the United States, and Saudi Arabia.
The Group is known for its technological and operational competence, and it has developed a global leading position in the Line Pipe and Home Textiles industries. Along with a strong desire for technological and operational excellence, the firm has consistently followed global ESG norms as a responsible conglomerate.
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