Welspun Corp Limited Stock Forecast
Welspun Corp Limited stock price up 1.30% on Friday
(Updated on May 17, 2024)
The Welspun Corp Limited stock price gained 1.30% on the last trading day (Friday, 17th May 2024), rising from ₹601.95 to ₹609.80. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.41% from a day low at ₹598.15 to a day high of ₹618.55. The price has risen in 6 of the last 10 days and is up by 1.51% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 674 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ₹810.03 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹616.97 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 11.62% during the next 3 months and, with a 90% probability hold a price between ₹604.86 and ₹688.66 at the end of this 3-month period.
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WELCORP.NS Signals & Forecast
Mostly positive signals in the chart today. The Welspun Corp Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹588.11 and ₹571.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 9.84%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Monday, April 22, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, April 22, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Welspun Corp Limited stock
Welspun Corp Limited finds support from accumulated volume at ₹605.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹20.40 between high and low, or 3.41%. For the last week, the stock has had daily average volatility of 3.27%.
Our recommended stop-loss: ₹586.87 (-3.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (WELCORP.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Welspun Corp Limited to open at ₹608.83, and during the day (based on 14 day Average True Range), to move between ₹587.17 and ₹632.43, which gives a possible trading interval of +/-₹22.63 (+/-3.71%) up or down from last closing price. If Welspun Corp Limited takes out the full calculated possible swing range there will be an estimated 7.42% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹605.20, some ₹4.60 (0.75%) from the current price of ₹609.80, our system finds the risk reward attractive.
Is Welspun Corp Limited stock A Buy?
Welspun Corp Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.515 Strong Buy Candidate Unchanged
Predicted Opening Price for Welspun Corp Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹608.83 ( 0.159%) | ₹609.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WELCORP.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 629.23 | 3.19 % | |
| R2 | 621.44 | 1.91 % | ||
| R1 | 616.63 | 1.12 % | ||
| Current price: | 609.80 | |||
| Support | S1 | 601.04 | -1.44 % | |
| S2 | 596.23 | -2.23 % | ||
| S3 | 588.43 | -3.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 609.80 | |||
| Support | S1 | 605.20 | -0.754% | |
| S2 | 600.70 | -1.49% | ||
| S3 | 583.65 | -4.29% |
WELCORP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | ₹5.00 | 1.86% |
| 2 | Jun 09, 2022 | Jun 09, 2022 | Jun 09, 2022 | ₹5.00 | 2.12% |
| 3 | Aug 09, 2021 | Aug 09, 2021 | Aug 09, 2021 | ₹5.00 | 3.85% |
| 4 | Aug 06, 2020 | Aug 06, 2020 | Aug 06, 2020 | ₹0.500 | 0.497% |
| 5 | Feb 03, 2020 | Feb 12, 2020 | Feb 18, 2020 | ₹10.00 | 4.84% |
FAQ
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