Honestly, I am not sure that its an excess or a breakdown but, volume is normal.
Normal volume indicate that, if price not bounce OR not create a TAIL before the close then its breakdown. Let wait and watch this closey for learn.
Yes traders and investors eye will look for this stock to buy at this area 265-268 is great to buy with stoploss 265 below and target...
Wipro is trading sideways between 280 and 300 as we could see in chart. Currently the stock is in the lower bottom of the range making it an opportunity from Risk-Reward perspective to go long.
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Wipro has formed bearish H&S on 30 and 60 minutes chart. Breakout has already taken place. Short moving averages has crossed over to the down side. Volume on breakout is quite high. We'll sell below 280 (ensuring lower top lower bottom) with stop loss above 289 for target of 271 & 260
- 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