Welspun Corp Limited
CMP: ₹1,632
🔴 SELL Entry Zone: ₹1,625–₹1,635
Targets: 🎯 Target 1: ₹1,595 🎯 Target 2: ₹1,565 🎯 Target 3: ₹1,530
Stop Loss: ₹1,658 (daily closing basis)Trend: Bearish
Probability: 72% Potential Upside (Short Position): ~6.3%
Risk-Reward Ratio: 1:2.8
Key Resistance: ₹1,650–₹1,658
Key Support: ₹1,595, ₹1,565, ₹1,530
Timeframe: 1–3 Days
Trade View
The stock is facing resistance near ₹1,650–₹1,658 and is showing a weak short-term price action structure. As long as it remains below this resistance zone, the bearish setup remains valid with downside potential towards ₹1,595, followed by ₹1,565 and ₹1,530. A sustained close above ₹1,658 would invalidate the bearish view.
Disclaimer: This technical analysis is for educational purposes and is based on price action and key support/resistance levels. Always use appropriate risk management before trading.
*SHREEJI FINANCE & INVESTMENT*
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