Wipro
Wipro range run- 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
WIPRO: Value area taking shapeThe market does facilitate trading in these price areas as we can see a lot of trading activity going on. Volume can be estimated in a number of ways though. Its main use is to identify support and resistance levels in the market, to gauge the strength of price movements, but it is best used in conjunction with other concepts and methods of analyzing the price. The above chart illustrates how supply and demand translates into price movements.
Wipro - Bullish ModeWipro has finally Managed to cross the 260 Hurdle which it was stuck since past 1 month.
Now other IT cos such as Infy & TCS have also come with good results.
So we can expect the entire IT pack to get a boost.
According to my analysis Wipro should be able to Cross the 300 Mark by 19-04-2019.
SL: 260.
MONTHLY || WIPRO TO BREACH 360!!!Wipro might breach 360 on the down side in the month of march and might not move above 390. Hence one can sell wipro on rise or can sell a 400 Call option and hold it till the end. If one is risk averse , he can sell calls that are a tad far away for safety.
Else one can buy a 380 put once there is a bounce in Wipro and hold it till 360 is breached. As time plays a very important role in options , it is wise to sell the option.
If one is long in Wipro, then it would be a good idea to close them on a bounce and wait for a dip to re-enter!
Probability Theory on WIPROHow many Probability In trading?
ans - 3 (Bull, Bear and Side way Markets)
Wipro is on bull run
Stock last swing define as 1 or 2
now next move will be point 3
Trade No 1
If price closed below 371 than Short for target of 367 ,361
or below 361 closing price can trade up to 350 zone
&
Trade No 2
If price rejection near 371 -381
than buy above 382 Closing for target of 388,399 or 405
Sl Random as per your Risk management