1) Unable to sustain above 200EMA and broke down
2) Retested and rejected again from 200EA
3) Multiple rejection patterns on lower time frame
Its now offering very good risk to reward ration of 1:6
Alternate view on the WIPRO long position ... might look like the pattern is already broken and it has been retested
Can get a trade opportunity based on next week candle
DISCLAIMER : All the articles posted are for analysis purpose only , any trade taken shall be under your own analysis and risk
There is a flag pattern formation in the WIPRO weekly chart and it is retesting the 200 EMA line .. lets look for the further movement and possible opportunity for the long position
Will post another linked article if required conditions met ...
DISCLAIMER : All the articles posted are for analysis purpose only , any trade taken shall be under your own analysis and risk
Maruthi possible breakout, took support of 50 DMA and crossed the resistance.
Buy @7480 target ~8000 (Short Term) ~9000 (Long Term) with 7200 as stoploss.
Long term downtrend channel breakout..
200 DMA breakout..
Bull Flag breakout..
Reverse Head and Shoulder breakout..
Forming Goldren Cross breakout..
If this doesn't make money, no chart will..
Long L&TFIN for target of 138 & 152
Go long above 580 with a SL of 574.5 with the first target at 596-600 levels and second target at 605. Stock is at the zone of two Fibonacci range confluence and has closed above 200 EMA on daily timeframe with good strength (volumes). Furthermore, RSI has entered the trending zone of >50 (three days ago) which makes the stock bullish.
