Buy Welspun Corp Ltd For Target Rs.1,638 - Religare Broking
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Welspun Corp Ltd. (WELCORP)
* WELCORP had a stellar performance for the initial 3 years after listing in the year 2005 as it surged from double-digit to a record high of 442 in 2008. But, the performance didn’t last for long as it not only reversed those gains but also made a new record low at 22 levels in 2013.
* Post correction, it witnessed a prolonged consolidation phase which finally ended in December 2021
* It has been seeing a steady rise since then and gradually inching towards its record high. The recent dip to the short term moving average( 20 EMA) is offering a fresh opportunity to create longs.
Buy Welspun Corp Ltd, Target : 299, Stop Loss : 255, CMP : 270, Range : 270-273, Period : 10-14 Days
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