Welspun Corp has been nicely trending up on daily chart. Today, the stock closed at 50 dma. The Big question - Will Buy the dips crowd support the stock here?
Here's the Daily Chart
If Welspun gets support here, then we may see sharp bounce but if stock gets into correction mode and slips below 50 dma, then we may see a correction all the way to 75 or lower. Let us see what happens. In Bull market, you should hope for bounce but be prepared for the worst.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers