Kinnari_Prajapati
Short

Wipro is closed out of channel will create selling

NSE:WIPRO   WIPRO
Wait for create some TAILS for short selling. On the daily chart , safe selling will trigger after trading below prior candle's low.

From the 15min chart, wait for break down level 297.

Comments

- The Nifty IT index has given a fresh breakout, TCS is near all time high, HCL tech is testing its previous resistance level, so under this circumstances its won't be wise to short stocks in IT sector.

- Further the buy back is set near levels of Rs. 320, hence the price traction shall be more on the long side.

- On daily charts the volume is also above average

- IT shall be defensive sector amongst current volatility. Is it worth shorting?
+5 Reply
vinodhs77 surajagarwal15743
@surajagarwal15743
Agreed with your view buyback around 325. High risk to short due to buyback
+3 Reply
@vinodhs77, actually, i am not bullish as much as focasting higher target for wipro
Reply
Can you check upload 15min chart also?
+3 Reply
It did came lower.
+1 Reply

Expect one sharp correction before the Continuation in the trend
+1 Reply
Kinnari_Prajapati I-Fund-Trader
@I-Fund-Trader, it happened as you draw spike correction.
Reply
I-Fund-Trader Kinnari_Prajapati
@Kinnari_Prajapati, Yes , it did
Reply
I-Fund-Trader Kinnari_Prajapati
@Kinnari_Prajapati,

Current update on daily
Reply
Kinnari_Prajapati I-Fund-Trader
@I-Fund-Trader, exactly happened you drawn.
Reply
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