Buy Welspun Corp with target Rs 154: Mazhar Mohammad

Positional trades should buy into this counter for a target of Rs 154 with a stop below Rs 129 on a closing basis.

Moneycontrol Contributor

January 14, 2019 / 11:22 IST

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Mazhar Mohammad

Welspun Corp appears to have posted a short-term bottom around Rs 130 levels as it is moving in a narrow range for the last 6 sessions after
retracing 62 percent of its rally from the lows of Rs 116–164.

Hence, on resuming the upward move from the said base it can eventually test its interim top of Rs 160 levels. Hence, positional trades should buy into this counter for a target of Rs 154 with a stop below Rs 129 on a closing basis.

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Moneycontrol Contributor

first published: Jan 14, 2019 11:22 am

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