Welspun Corp Limited (WELCORP) Stock - Complete Technical Analysis - Nov 29, 2024

Technical Analysis of Welspun Corp (WELCORP) Stock Support, Resistance & Key Indicators

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Welspun Corp Limited (WELCORP) is demonstrating a solid upward trend, currently trading near 774.70, just below its 52-week high of 806.00. The stock has experienced impressive growth from its 52-week low of 440.15 in June, reflecting a 76.01% increase.

Key technical indicators highlight a bullish scenario for WELCORP. The MACD is in a positive zone, confirming the uptrend, and the RSI at 61.92 suggests the stock is not yet overbought, leaving room for further gains. However, the Stochastic %K is showing overbought conditions, warning traders to stay cautious in the short term.

The Exponential Moving Averages (EMA) and Simple Moving Averages (SMA) also signal strength. The stock is trading well above the 200-day EMA and other SMAs, reinforcing the overall positive trend. Immediate support is expected around 715.00, while resistance lies near 785.00. A breakthrough above this resistance could drive the stock higher toward its 52-week high.

Volatility is moderate, indicated by an ATR of 18.50, showing occasional price fluctuations, which are important for short-term traders to watch for potential pullbacks.

In summary, WELCORP is in an uptrend, and investors should look for potential pullbacks near support levels for entry opportunities. Those looking for a breakout above 785.00 should consider the next potential target at 800.00 or higher.