SWING IDEA - WELSPUN LIVING 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 :
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
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@visionary.growth.insights
Welspun
#WELSPUNLIV is breaking out#WELSPUNLIV broke out after >2.7 years of facing resistance. Also, it is forming a cup and handle pattern and looks very bullish as the volumes are also supporting the breakout.
In my opinion, we can long here with a target of 300 and SL of 150.
Do your own research before investing.
Welspun living : CMP 153.66-Stock looking good for swing trade (15-20% ) as well as long term.
-it has made pole and flag pattern on weekly chart and going to make cup and handle pattern with increasing volumes.
-Safe trader take entry after breaking its ATH.
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-annual Profits are increasing .
-PE ratio 22 is very low as compare to industry PE which 56
-FII holding 7%.
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Only for educational purpose
Do not keep SL more than 10%
all target done in welspunall target done in Welspun as on 19/Oct/2023
ROI: 50% within 4.5 months
if you still holding then your ROI is trading around 92% as a date on 16/Nov/2023
we suggest you stocks after research of fundamental & technical analysis.
follow for the more valuable swing stocks at minimum risk & maximum return.
(Note: we are not SEBI registered so invest on your risk)
Welspun India Trend AnalysisRanked as world's largest home textile supplier.
Potential Multibagger!!
There is divergence in RSI on weekly and Stochastics is hitting the floor on monthly.
Sales declined since SEP 2021 with decline in OPM%.
A decline of more than 63% shows price has already factored in these fundamental aspects.
Net profitability has increased by 11.3%
Key support level is at 57 so its good to accumulate around this level.
Stop loss @ 45
Short term swing target @ 90 (57% ROI with 2.75 R:R)
Medium term positional target @ 150 (163% ROI with 7.75 R:R)
Long term positional target @ 207 (263% ROI with 12.5 R:R)
Do your own due diligence before taking any action.
Peace!!