STOCK KEY LEVELS SUPPORT AND RESISTANCE FOR INTRADAY 03/11/2020 TRADE WITH STRICT STOPLOSS AND FOLLOW RISK MANAGEMENT
Wipro looks good for a positional trade, or option selling trade. Reasons are : 1. Bullish engulfing reversal at day frame. 2. double bottom reversal at 1 hour frame. 3. Reversal from 0.618% retracement zone. 4. The IT sector as a whole is in a bullish trend. The stock has a good potential of around 9-10% in maximum 1 month. But still, even after all these...
NIFTY50 KEY LEVELS SUPPORT AND RESISTANCE FOR INTRADAY 02/11/2020 TRADE WITH STRICT STOPLOSS AND FOLLOW RISK MANAGEMENT
For today we will look to: Buy Above 340.5 T1: 349 SL: 338.5 RR: 1:4
Wipro seems to be bullish only if holds above 347, else we might find a good selling opportunity arround 344 for 326. Regards
As per the price action on hourly chart, it is observed that the price action consolidated after a sharp correction to the previous gap up levels. Now price action formed a pennant triangle pattern, indicating continuation of prior strong bearish move. The price action may further fall down to 325-330 levels. It is a low risk, high reward trade setup. T1- 335...
Chart says it all. Forming an inverted cup and handle(Bearish). I expect it to breakdown in few days.
Intraday / Swing Setup: Looks good for 360/380. Enter between 348-349 with SL of 344 for Intraday and 341 for Swing. Wait for confirmation on 15 mins chart. Note: I am not a SEBI register and view is only for educational purpose as well as personal, always consult your financial advisor before investing or trading.
BUY CANDIDATE FROM THE CURRENT LEVEL , SHOULD BREAK THE DOT COM BUBBLE LEVEL (REDLINE) ! STOP LOSS SHOULD BE THE LEVEL OF 324 STRICTLY !
I had posted a gapfill idea a couple of days ago. That seems to have completed. ~2 points miss which I think is decent fill. Now the stock is ready to move upwards again. Catalysis for the move? The buyback at 400. Positive for Wipro. Buy here at 345. Target at 352. Stop loss at 340.
if Breaks 333.00 can see more further downside , RSI day has turned to reverse trend can you see a major fall if possible in next 4 days.
RSI shows overbought zone. It is going to cover the gap soon. Good opportunity to short. I'd recommend trading with PUT calls though. NSE:WIPRO
Price action Based analysis on WIPRO IT sector is now overbought CMP = 360.60 Lot Size = 3,200 there are 2 targets as shown by arrow DON'T forget to check out the related ideas which i have posted down below they worked really well FOLLOW & LIKE & COMMENT
Testing highs after 20 years!! Results this week
MY 9 TH CONSECUTIVE CALL WHICH GAVE 1% . NOW I FEEL SUSPICIOUS AS, MY CALL FOR THE STRAIGHT NINETH TIME DIDNT HIT SL AND I AM WORRIED . EASY SET UP 1. TL FORMATION 2.FIBO 3. AND BO
Till it holds 355 level, 405 looks good for now. Regards
LEVELS MARKED ON THE CHART
According to technical indicators and candlestick analysis looks like the Indian I.T sector share gets overstretched and correction is possible. Also, RSI is in the overbought zone (80), and also in day frame analysis, it has formed a "Shooting Star" pattern (Trend reversal pattern). Here, by Nifty I.T analysis I am referring to I.T stocks Eg: NSE:TECHM , ...