WELSPUNIND after hitting ATH in Oct 2021 fell more than 60%.
Since hitting 52wk low stock has been taking support from a rising trendline. Past 3 months stock has been consolidating in a tight range with medium to good volume.
A break above the 200 EMA can give the stock some recovery chance.
Previously the stock gave a good breakout and reached ATH from these same levels after similar consolidation.
Entry - Strong Close above 85.50
Target - 96/112
SL - 74
Views are personal, study the stock carefully before taking entry.
Since hitting 52wk low stock has been taking support from a rising trendline. Past 3 months stock has been consolidating in a tight range with medium to good volume.
A break above the 200 EMA can give the stock some recovery chance.
Previously the stock gave a good breakout and reached ATH from these same levels after similar consolidation.
Entry - Strong Close above 85.50
Target - 96/112
SL - 74
Views are personal, study the stock carefully before taking entry.