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The outlook for Welspun Corp is bullish. The stock has begun the week on a strong note by surging over 9 per cent so far. This marks the end of the corrective fall since the last week of August. Its share price well above the key resistance at ₹700. The region between ₹700 and ₹690 will now act as a good support zone and limit the downside. Welspun Corp share price can rise to ₹785 in the coming weeks.
Traders can go long now at ₹720. Accumulate on dips at ₹710. Keep the stop-loss at ₹680. Trail the stop-loss up to ₹727 as soon as the stock moves up to ₹735. Move the stop-loss further up to ₹755 when the price touches ₹765. Exit the long positions at ₹780.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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