Welspun Guj

#1
Can anyone from the forum comment on why Welspun Gujarat is facing resistance at 230 though the fundamentals are very strong & the company has posted good results with substantial order book?
 

columbus

Well-Known Member
#2
Can anyone from the forum comment on why Welspun Gujarat is facing resistance at 230 though the fundamentals are very strong & the company has posted good results with substantial order book?
It moved vertically from 120-220/- in matter of days, with rise in volumes
upto 10 million shares per day.Lateron it lost momentum and fell back to
180/- with losing trading interest ,with just 2millon shares on some days.
Again it rose and on average it is registering volumes to the tune of
3~4 millions.One can take exposure to the stock in 180~200 price band
with a long term view.
 
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