WL
Welspun Living — Daily Chart Analysis
Simple, readable and actionable. Price is testing a long-term descending trendline — watch the levels below.
Timeframe: Daily
CMP: ₹140.80
Key level: Trendline ≈ ₹142
Immediate Resistance
₹142 (Trendline)
A daily close above this level signals a breakout.
Next Resistance / Target
₹152.25
Previous swing high — watch for momentum continuation.
Immediate Support
₹138.7
Short-term floor — good intraday reference.
Lower Support
₹132 - ₹134
If broken, expect deeper pullback toward ₹125.
Summary: Price is at a decision point. Close above ₹142 on daily timeframe → bullish continuation. Failure to clear → reject toward ₹138 or lower.
Trade Plans (clear & short)
Conservative Long
Entry:
Buy on daily close above ₹142
Stop-loss: ₹137 | Targets: ₹148 / ₹152
Aggressive Intraday Long
Buy near ₹138.7
SL: ₹136.5 | Targets: ₹141 / ₹142
Short (Momentum Failure)
Sell below ₹138
SL: ₹141 | Targets: ₹134 / ₹130
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