Welspun Corp is showing a promising range breakout setup on the daily timeframe after several months of sideways consolidation. The stock has been trading between ₹830–₹985, forming a well-defined accumulation base within this horizontal range.
After multiple rejections from the upper trendline and support retests near the ₹830 zone, the stock has recently broken above the short-term falling trendline, accompanied by rising volume and bullish candles, indicating early signs of momentum shift.
The 20 EMA has crossed above the 50 EMA, confirming a short-term bullish crossover. Price action also suggests that the lower range around ₹830–₹850 has acted as a strong accumulation zone, with buyers defending it multiple times.
🎯 Key Levels:
CMP: ₹898.10 (+2.32%)
Support Zone: ₹830 – ₹850
Resistance Zone: ₹980 – ₹1,000
Breakout Trendline: Crossed around ₹880
Potential Target: ₹985 – ₹1,000 (Upper range test)
Stop-Loss (Swing Basis): Below ₹825
📈 Technical View:
The breakout above the falling trendline indicates renewed strength.
Volume expansion during the recent move confirms buyer participation.
EMA alignment is turning positive, hinting at potential short-term trend reversal.
A close above ₹910 could accelerate a move toward ₹980–₹1,000 zone.
🧠 View:
Sustaining above ₹880–₹890 zone could trigger a continuation move toward the upper end of the range near ₹985–₹1,000. Watch for volume confirmation and a strong daily close above resistance for positional entries.
After multiple rejections from the upper trendline and support retests near the ₹830 zone, the stock has recently broken above the short-term falling trendline, accompanied by rising volume and bullish candles, indicating early signs of momentum shift.
The 20 EMA has crossed above the 50 EMA, confirming a short-term bullish crossover. Price action also suggests that the lower range around ₹830–₹850 has acted as a strong accumulation zone, with buyers defending it multiple times.
🎯 Key Levels:
CMP: ₹898.10 (+2.32%)
Support Zone: ₹830 – ₹850
Resistance Zone: ₹980 – ₹1,000
Breakout Trendline: Crossed around ₹880
Potential Target: ₹985 – ₹1,000 (Upper range test)
Stop-Loss (Swing Basis): Below ₹825
📈 Technical View:
The breakout above the falling trendline indicates renewed strength.
Volume expansion during the recent move confirms buyer participation.
EMA alignment is turning positive, hinting at potential short-term trend reversal.
A close above ₹910 could accelerate a move toward ₹980–₹1,000 zone.
🧠 View:
Sustaining above ₹880–₹890 zone could trigger a continuation move toward the upper end of the range near ₹985–₹1,000. Watch for volume confirmation and a strong daily close above resistance for positional entries.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.