As can be seen on chart there is a possible bearish BO from the rising wedge trend Welspun was following.. Plus it is hitting the strongest resistance..
However, the volumes are not very convincing for a trend reversal so wait for that confirmation..
It can also be a reaction right before earnings release ... but i do not think there is any insider/institutional selling yet because there are no volumes
Keep an eye on this one ..look for exit if you own a position..
However, the volumes are not very convincing for a trend reversal so wait for that confirmation..
It can also be a reaction right before earnings release ... but i do not think there is any insider/institutional selling yet because there are no volumes
Keep an eye on this one ..look for exit if you own a position..
