Welspun India

Investors with long-term perspective can consider buying Welspun India.

The structural down-trend from December 2004 peak in this stock halted at Rs 13 this February and a strong uptrend is in motion since then.

The monthly oscillators are beginning to signal a buy indicating a reversal in the long-term trend.

Long-term investors can accumulate the stock in declines with stop-loss at Rs 19. Though the stock can correct over the medium-term, this correction is expected to halt above Rs 20.

We expect the stock to rally up to Rs 70 over the next 12 months.

Medium-term investors can buy with the target of Rs 50 and with the stop at Rs 26.

via BL