Trading_hawk

Simple Trade Setup | WIPRO | 10-01-2022 [ INTRADAY ]

NSE:WIPRO   WIPRO LTD
NSE:WIPRO

Observations:

1) On 1 day time frame, we can see it just closed at 10DMA.
If it trades below 10DMA then we can see some profit booking.
10DMA is placed at 710.91 level.

Major breakout level for upmove is 720 level range.

Please refer below chart : 1 day Time Frame.

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Trade Setup for 10-01-2022

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

4) Avoid gap up or gap down chase. Wait and trade between levels.

Please refer below chart for levels.

Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Comment: no trade in WIPRO. as it made such big candle in starting.


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