Jain told CNBC-TV18, "I think Welspun India is giving a buy signal. A swing target would be closer to Rs 100. So at Rs 92 that gives you a margin of about 9%. I think that is good enough to buy for. So I would probably on this level or any dip look to buy into this counter."
Welspun India has touched an intraday high of Rs 93.70 and an intraday low of Rs 90.00. At 13:32 hrs the share was quoting at Rs 90.50, up Rs 1.50, or 1.69%. It was trading with volumes of 457,230 shares. Yesterday the share closed down 2.20% or Rs 2.00 at Rs 89.00.
The company touched its 52 week high Rs 102.40 and 52 week low Rs 16.82 on 18 Jan, 2010 and 12 Mar, 2009, respectively. Currently, it is trading -11.62% below its 52-week high and 438.05% above its 52-week low. Market capitalisation stands at Rs 661.46 crore.
