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Itsector

Wipro double top, short below 711.Hello guys, I.T sector looks week to me and yesterday Nasdaq also saw a significant fall so we will be looking to short I.T stocks for a few days, preferably on a pullback. Wipro has made a double top pattern also known as M pattern by some traders, what it means is that the price faced rejection from a specific level 2nd time and is not wanting to go beyond that for now, so it's a bearish pattern. The volume profile also shows interest in short side rather than going long. The RSI has started to go weak. 9 ema is above the price. Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding. Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
NSE:WIPROShort
by this_is_shoaib
2
Expecting a goodBreakout in CYIENT NSE:CYIENT from the IT rally CYIENT has taken some good corrections and now it is back to its previous demand zone . it is still taking rejections from the given trendline I expect a good breakout in coming days. CNXIT also looks good after breakout but not much bullish we can buy it after the breakout of both the trendline and the previous 15 days consolidation that is above 1015. for the given targets in the chart. NOTE - THIS TRADE IDEA IS ONLY FOR EDUCATIONAL PURPOSE WE ARE/WOULD NOT BE RESPONSILE FOR ANY PROFIT OR LOSS
NSE:CYIENTLong
by Arshad_Khatib