WIPRO LTDShort
Good place to book profits
Wipro CMP 567
Elliott- the first fall has 5 waves hence this rally is an opportunity to sell.
Trendline - break of the trendline will be a confirmation. Hence once can wait for shorts here till it breaks and then given a rally.
RSI - we have -ve divergence too at this zone.
FIB- the rally has halted at 61.8%. Which is also the start of the 3rd wave of C. To me this is a very high probability reversal zone.
Conclusion - traders and investors should take profit off the table.
Elliott- the first fall has 5 waves hence this rally is an opportunity to sell.
Trendline - break of the trendline will be a confirmation. Hence once can wait for shorts here till it breaks and then given a rally.
RSI - we have -ve divergence too at this zone.
FIB- the rally has halted at 61.8%. Which is also the start of the 3rd wave of C. To me this is a very high probability reversal zone.
Conclusion - traders and investors should take profit off the table.
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