Welspun Corp Ltd – Downtrend Line Breakout After ShakeoutWelspun Corp Ltd – Downtrend Line Breakout After Shakeout
NSE:WELCORP
📈 Pattern & Setup:
Welspun Corp has just broken a long-term descending trendline that has held since June, signaling a potential major trend reversal.
The recent “Shakeout” below 800 acted as a classic Wyckoff-style spring — flushing out weak hands before institutions stepped in aggressively. You can clearly see how volume expanded right after that shakeout, confirming strong absorption and demand shift.
Now, the price has broken above the 900 zone with conviction, marking a clean breakout setup. The projected move from this breakout suggests around a 21% upside potential toward 1090 levels.
📝 Trade Plan:
✍Entry: Above 910 (breakout confirmation)
🚩Stop-Loss: 860 (below recent breakout base)
🎯Targets:
Target 1 → 980
Target 2 → 1090 (21% potential move)
💡 Pyramiding Strategy:
1. Enter 60% position on breakout above 910
2. Add remaining 40% above 940 once volume continues to expand
3. Trail stop-loss to 880 once the stock sustains above 960
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🔴Disclaimer:
This analysis is for educational purposes only. Not a buy/sell recommendation. Please do your own research or consult your financial advisor before trading.
