WIPRO End of Fall ??!!
Updated
Chart patterns insist me to go with above titled opinion
REASONS
1. In Monthly timeframe , WIPRO has been trading inside Ascending channel taking support and resistance (shown below)
2. Middle yellow trendline- Resistance turned Support looks favourable for the bounce.
3. Entry(safe) can be made after a good voluminous Breakout out of the white slanting trendline.
4. SL can the low of the Breakout candle.
As the stock has fell more than 50% , we can even wait for WEEKLY BREAKOUT and then enter upon retracement.
Will update as it moves!!!
Let's wait & watch , how it moves!!!!
NOTE- Just sharing my view...not a tip nor advice!!!
REASONS
1. In Monthly timeframe , WIPRO has been trading inside Ascending channel taking support and resistance (shown below)
2. Middle yellow trendline- Resistance turned Support looks favourable for the bounce.
3. Entry(safe) can be made after a good voluminous Breakout out of the white slanting trendline.
4. SL can the low of the Breakout candle.
As the stock has fell more than 50% , we can even wait for WEEKLY BREAKOUT and then enter upon retracement.
Will update as it moves!!!
Let's wait & watch , how it moves!!!!
NOTE- Just sharing my view...not a tip nor advice!!!
Note
Good going as expected!!!Note
still not entering the trade...As expected it gave BREAKOUT....waiting for further retracement!!!
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