Short Term Pick: Wel Corp

Analysis:

• ·         Stock has given flag breakout on daily chart by big white candle closing above trendline.  
• ·         Stock is in uptrend buy following higher top higher bottom pattern on daily chart.
• ·         Stock is tagging upper Bollinger band and closed out of this band suggest bullish strength in this counter.
• ·         Indicators like RSI, MACD, ROC & ADX suggesting buy signal.
• ·         Stock is above its 20 days SMA, 50 days EMA, 100 days EMA & 200 days EMA suggest it’s in uptrend.

Strategy: Buy Welcorp at CMP- 77.65 for possible Target- 100 with stop below 72 on daily closing basis.