1)Double Top Formation
2)Bearish Butterfly pattern
3)Bollinger Band resistance
As shown in chart whenever stock break 2200 level it rapidly moves down and Simple moving average acts as support.
So it can move down up to 2140/2100/2040....
Wipro has failed yet again around 335 levels forming Double top in the week of 17 September 2018 and 17 December 2018 .
I can also see a large Bearish Engulfing candle for this week.
Looks like the stock is headed back to 305 levels.
Good opportunity to short with stop loss around 335.
Disclaimer: Views expressed here are my own, and should not be interpreted...
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