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Wipro

Wipro case: What is your focus - Trading or Risk Management?Wipro CMP 358 On November 05, 2020, this is what we had posted The price was at 347 and we had suggested to go short on 360 Call option at 4.6 In that we had mentioned SL at 365 but be watchful if it crosses level of 353. A close above that would indicate further upside movement possibly towards our SL at 365 Notice how the level of 353 acted as resistance till November 23, 2020. And once it surpassed that level, Wipro eventually made a high of 364. Since then it has taken a pause and is currently trading at 358. Again we see gap resistance at 365 being respected. This teaches us an important lesson that Technical Analysis is not about being right or wrong.... but more about understanding important support and resistance levels, identifying your entry and exit points and planning your trade accordingly. Interestingly we came out from our strategy on November 24, 2020 with decent profits, even though the stock moved in the direction of Stop Loss... (Wipro was trading 10 points above our entry level). This Case will help you understand that rather than focusing on making profits, one can increase his / her chance of being profitable if he / she focuses on managing risk. Remember This is Market and Market is always Supreme. Give yourself scope to be wrong and try to manage worst come situations... and chances are you will see your trades being more profitable. Follow. Do Hit the Like button / or comment below and let me know what you guys think on this subject. Take care & happy learning..!!!
NSE:WIPRO
by indiamarketoutlook
Wipro: Chart set up & viewWipro CMP 347 We observe - Wipro chart has done a gap filling activity - trading above 20 day EMA currently around 338 - 365 important gap resistance level Strategy: Given the chart set up One may Consider selling Wirpo November expiry Call Option Strike Price 360 In the range of 4.6 - 5 (CMP 4.6) Lot size 3200 A 3 day close below 20 day EMA would increase the probability of a fall up to Target 1 The strategy covers risk of rise up to 364.60 on expiry day However I would be cautious if Wipro gives a close above 353 in Equity Market Take care & safe trading...!!! Disclaimer: - The view expressed here is my personal view - Use this for educational purpose - Any decision you take you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:WIPROShort
by indiamarketoutlook
WIPRO : ALGO BUY SIGNALHOW TO FOLLOW ALGO SIGNAL: Deciding buy/sell 1.Strictly use only on 1 hour time frame. 2.Wait for a ‘X’ sign before mind make up. A red ‘X’ means look for selling opportunity , a green ‘X’ means look for buying opportunity. Taking a position: 3.Wait for an arrow before entering into any position. A red arrow on upside of a bar pointing downward means open short position. A green arrow below the bar pointing upward means open buy position. 4.NOTE: Only after the the signalling of X , look for arrow. Do not buy/sell if you see any arrow before the signal of X. 5.STOP LOSS should be the most recent swing high/low or most recent STRONG CANDLE’S high/low. While maintaining the position : 6.The small triangles after the each bar completion tells you to hold the position. The red triangles appearing upside on the bar tells you to hold the short position, whereas the green triangles appearing below the bars tells you to hold the long position. Exiting the position: 7.After you create a buy position , if you see a green arrow above any bar pointing downward, then you should either book partially/leave the position for sometime. You will get another signal to re-enter. 8.Similarly, after you create a sell position , if you see a red arrow below any bar pointing upward, then you should either book partially/leave the position for sometime. You will get another signal to re-enter. 9.While being in position if you see any X signal which is opposite of your trade , then leave your position immediately. 10.When you see a big red circle dot then you must exit all your short positions. Contrary , when you see a big green circle dot , you must exit all your long positions. And then wait for a X-signal. No Trading Zone: 11.When you get frequent X-signals in green-red-green-red & that too very close, then its means that stock is going to form a range. One should wait for the range break & move away to another stock. (THIS IS WHERE YOU WILL REQUIRE A PRACTICE TO IDENTIFY THE RANGE)
NSE:WIPROLong
by TradingSutra
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