Welplace Portfolio Ready for another Upmove

Welplace Portfolio Update on Channel Chart. We covered this stock on Monday and Thursday

We were expecting to cool down from the up move after the move till 97 and Weekly Profit Booking came pushing the price of stock near the channel bottom.

Welplace Daily Chart with Channel

As seen in daily chart stock corrected from upper end of channel and took support at lower end of channel. Now Ideal entry would be around lower end of channel around which is around 82-83. Holding the same another rally till 100-110-125 in next 1-2 months.

Traders can again go Long in range of 81-83 SL 75 Target remains the same 100-110-125 in next 1 to 1.5 months.

This is not an investment pick  as I am not expert in Fundamental analysis but a short term pick for gain of  purely based on Technical Analysis.Please also do your own study before trading this stock and trade in small quantity.

7 thoughts on “Welplace Portfolio Ready for another Upmove”

  1. Hi Bramesh,

    Today It made a high of 112 and came down to 98. What is near by Target it can touch. Please give your insight.

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