WELSPUN GUJRAT
The stock has been in a good uptrend with more potential remaining. However now the stock is near ts fibo as well as candle resistance of 290-295 where it could see some supply coming in.
The support areas are 260 which is a gap support hence a good one and then finally at 235 which is 38.2% retracement of the entire rise and fall from 2008 to march low.
The best way to invest in the stock is to wait for a dip in the region of 240-235 and then keeping a SL of 225 buy the stock for higher targets to 300 to 352.
Also if the stock closes above 303 it can test 320 and then 352 so a close above 303 can offer a short term trading opportunity.
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