Welspun Corp is on the verge of a breakout: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his views on Welspun Corp.

ET Now: What is your call on Welspun Corp?

Mitesh Thacker: Welspun Corp is a stock with some positive news broken out. The stock was consolidating in the range of about 125 on the downside to broadly about 147 on the upside. This is on the verge of breaking out. Today's price movement signals that a breakout should happen soon.

This stock could head towards targets of about 160-162 on the upside. So, 147-148 is the level of breakout. If somebody wants to buy the stock, keep a stop below 140 and start accumulating this stock.