sandeepkumarmeenagreaternoida

Neighbours Envy Owners Pride

Long
NSE:WIPRO   WIPRO LTD
"This is my trading journal, not a trade recommendation. I Will be Posting and updating the ideas regularly, as market progresses, only for educational purposes for me and others who want to benifit from my experince.

Another long opportunity till 516, Breakout from triangular consolidation, Stop loss 407.

DISCLAIMER:
Trading in the stocks market or futures markets is one of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.

This is one person’s experience, your experience may differ. Past perfomance is not gaurantee of future gains.
Comment: Lookout for long opportunity when prices touch dotted magenta line.
Comment: Can you rust this 10 month long trend ?
Comment: change of behaviour
Comment: stop loss level tested but not on closing basis.
Comment: prices are at 260/480 bar (i.e 54%) break out of prices from triangle pattern generally occour at 66% ( i.e at 320the bar out of 480(base of triangle).
Trade closed: stop reached: stop loss gone
Comment: FUNNY..!!

Comments

Brother Are you still holding this stock? How long do you think does it take to breakout?
Reply
@Nithinkonakalla, YES , I am still holding because price is still consolidating in triangle, but now with every passing day it is coming closer to apex, last week i was planning to buy more near 400 but missed the opportunity. Truely speeking, for the sake of discipline I am keeping the stop loss at 407 on closing basis EOD otherwise market looks week. Prices are at action line (bottom most line of pitchfork) today and i am expecting them to respect this line. if prices reach at apex of triangle they may give a 3% move upside. If prices breach the pitchfork prior to that then based on that behaviour of prices can be considered changed. see the green dot , this is 320th bar
Reply
sandeepkumarmeenagreaternoida sandeepkumarmeenagreaternoida
Reply
Great analysis brother... keep going ⚡✌️
Reply
Nithinkonakalla sandeepkumarmeenagreaternoida
@sandeepkumarmeenagreaternoida, Any update on this?...as it has changed its behaviour today
Reply
@Nithinkonakalla, Till dotted magenta line is respected, BEHAVIOUR is intact. I am longa (435) and keeping SL(407) on closing basis.
Reply
Nithinkonakalla sandeepkumarmeenagreaternoida
@sandeepkumarmeenagreaternoida, oh okay understood!!
Reply
Good one Sandeep. Wipro just acquired Capco and seems a good news for the scrip
Reply
@Gotledu, That's great..I have placed buy order @ 435. let us hope it gets filled tommorow.
Reply
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