SWING IDEA - WELSPUN LIVING
Updated
Welspun Living, a leading company in the home textiles sector, is presenting a compelling swing trading opportunity based on several key technical indicators.
Reasons are listed below :
Target - 200 // 250
Stoploss - weekly close below 145
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- Head and Shoulder Pattern Breakout: The price has broken out of a head and shoulder pattern, indicating a bullish reversal and potential for further upward movement.
- 170 Resistance Zone Breakout: The 170 level was a significant resistance zone. The price has broken out above this level and is sustaining, indicating strong bullish momentum.
- Bullish Marubozu Candle with a Strong Close: The recent formation of a bullish marubozu candle with a strong close signifies strong buying pressure and suggests potential for continued upward movement.
- Breaking 3+ Years of Consolidation: The stock is breaking out of a long consolidation phase that lasted over three years, signaling the start of a new bullish trend.
- Gradual Increase in Volumes: A noticeable increase in trading volumes confirms the strength of the price move and indicates growing investor interest.
- Trading Above 50 and 200 EMA on Weekly Timeframe: The stock is finding support at both the 50-week and 200-week exponential moving averages (EMA), reinforcing the overall bullish sentiment and providing strong support levels.
- Trading at All-Time High: The stock is trading at its all-time high, suggesting strong market confidence and potential for further gains.
Target - 200 // 250
Stoploss - weekly close below 145
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Note
made a high of 8%++Note
made a high of 12%, hold!Note
accumulateNote
consolidating near our entry price, hold!Note
close to our 1st target, made a high of 15%++Trade closed: target reached
1st target achieved : 22%++Note
bouncing back from support zoneNote
hold!
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