- Looks like wipro has taken support from its all time trend line
- However, volume seems to be big of concern
- Dropping volume indicates that its more likely to fall than rise
- Further I don't see any respite coming through in USD
- If it breaks 280 level and the breakout is sustained, the next target shall be 255 levels
Value area is shrinking as the trend goes upward while taking support. Downward patterns are made with long bearish candle supporting with heavy volume
Sell Below 2128 target = 2118, 2108 SL = 2136
Buy above 2144 Target = 2157, 2160, SL = 2133
#Illuminati
The less time price spends at a certain price level, the more effective that price level will be in providing support or resistance for future price action.
Shot TCS 2256-2258 nearby
Stop loss 2261-2264
Target 2222-2219
1- BEARISH BAT FORMATION
2- STOCK AT PREVIOUS TREND LINE resistance
3- STOCK LOSING MOMENTUM ( RETEST ARE deeper )
AT 15 min chart there is a formation of bearish engulfing pattern
price has respected previous trend line resistance and short term trend lin e resistance
( short entry after breakout of smaller time frame support trend line )
The left side to the right, each excess have tails before the turn. You can see with both eyes at excess(f) has started to create TAIL which is -ve for long and indicate for reversal the trend.
With TimeCycle analysis, 1st-phase has 43bars and 2nd-phase and 3rd phase till continue.
Turn on your eye on volume, it's reducing.
Prev. Resistance is at ...
- Basically, it is a sector rotation, from financial services to IT and metals
- USD/INR has also bottomed out, hence IT stocks may opt for a rally
- Weekly flag breakout as well as positive divergence on RSI
- Can look up to targets of 2200 or more
