Welspun breakoutWelspun Living LimitedNSE:WELSPUNLIVythakkar23🔍 Chart Overview Welspun Living has been in a prolonged downtrend, respecting a descending trendline from the ₹170–180 zone. Price has consistently made lower highs, confirming bearish structure. Currently, price is approaching a key breakout zone near ₹140–₹142, right at the falling trendline resistance and cluster of moving averages. 📈 Key Observations ✅ Descending Trendline Resistance Multiple rejections from this trendline Current price testing this zone again → decision point ✅ Moving Average Confluence 20/50/100/200 SMA cluster around ₹135–₹147 Price attempting to reclaim this zone → bullish sign if sustained ✅ Higher Low Formation Recent move from ₹110 → ₹140 Indicates building bullish momentum ✅ RSI Strength RSI ~58 and trending upward Shows improving momentum without being overbought 🚀 Trade Setup Bullish Scenario (Preferred) Entry: Above ₹147 (clean breakout + closing basis) Targets: ₹155 / ₹165 / ₹175 Stop Loss: Below ₹132 Bearish Scenario (Rejection) If rejected from trendline: Downside targets: ₹130 → ₹120