Wipro Positional short with 301.5 as SL

Wipro
Short level spot b/n 296-297
SL: 301.5
Targets: 282/278

Reason: Twizzer TOP / C wave down expected from 296-297

ADD LONGS FROM 278-282 LEVELS AS THE BUYBACK IS EXPECTED SOON AT 325

Note

INVERTED CUP AND HANDLE PATTERN FORMATION. ENTRY BELOW 288.55 FOR TARGETS OF 282/277.5

Note

Near Target 1. Book half and wait for second target

Note

Cmp 283 . Expecting a bounce till 287.7 before falling lower. There's chance for this EW count to be wrong. (This could be an extended wave 3 top instead of 5th wave top at 299.45). In that case one more high Expected. So trade with TSL

Note

Fresh shorts active at 288 . Short with 290.2 as SL . Expected Target 280.50/278

Note

Final Target in short side could be around 278-280.5
Trade accordingly

Trade closed: stop reached

Trade active

Short side targets met. Now as mentioned buy side active from 278-282. Target 290.5-293

Trade closed: target reached

Buy side target achieved.

Trade active

Sell again with 297 as sl for lower targets of 280/269

Trade closed: target reached

SL TRIGGERED AT 297 BECAUSE OF THE BUYBACK.

ALL TARGETS IN SHORT TRADE IS DONE.

DONT BE IN SHORT SIDE

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