Wipro
TECH Mahindra gets Bowled!As published earlier with little bit information about TECHM, i am feeling very bearish on this stock of upto levels of 465, and beyond that is a bonus one can dream of.
A complete beautiful inverse bear pennant. it will follow the yellow line towards the last white line. if not will consolidate but not break the red line (Unless with volume) which is unlikely impossible! Short below 500 and see wonders. ALSO if it breaks green line, it cant break orange line. Have peaceful profits!
Wipro: Chart set up & Strategy for the stockWipro
Cmp 187.85
Chart is self explanatory.
Alternatively one may consider the following strategy
Sell Wipro 30 April expiry Put option
Strike Price : 180
Price range : 6-7.5
Lot size : 3200
Target : 1.6 / 0
Stop loss : if Wipro closes below 178 in cash market
Safe trading...!!!