Wipro
NIFTY IT (CNXIT) trendline on historical chartIt has been observed on NIFTY IT CNXIT weekly chart that a rising trend line has been acting as good support and resistance on several occasions.
PS: Request you to use this trend line setup as a supplement to your analysis before taking any position.
Thanks,
tRex
Jurassic Park
Wipro - Weaker of the whole Tech packWe can all agree that Wipro is a fundamentally weak stock in all of frontline Tech stocks.
Stock has been moving up following the trend line during corrections making newer highs everytime it corrects. That seems to have paused at 330 which is also a big resistance zone which was also the highs made before 2000 tech bubble burst.
Stock may retest the trend line again but will it survive this correction? Only time will tell...
TECHM october series importanr levels I see some sort of correction in it sector to balance the one way rally ... but the correction will again get over soon looking at the earning season into picture as well as the usd inr depriciation will generate better revenue story for these stocks like tcs infy etc
MyAlgo : xMRSI-Progresser: Intraday : 26Sep-WIPRO-ShortBased on my "xMRSI-Progresser" predictive trading methodologies, its going to be a RED candle on 26-Sep-2018 for WIPRO
Sell Below(5Min candle close): 327.5 for targets -
T1: 325
T2: 323.6
T3: 322
SL: 330.1
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before attempting any. The profit/loss made by you due to this call, is solely your own responsibility. Thanks, All the best. Happy Trading. :-)
INTRADAY TRADE - 14/09/2018- "WIPRO" ACTION TO BE TAKEN:
1. Firstly load your chart in the time frame of 1 hour
2. Mark the "HIGH" and "LOW" for the first 1 hour session
3. In this scrip, the strategy is to "SHORT"
MOST IMPORTANT PART OF TRADING:
We will enter the "SHORT" trade ONLY IF, the low of the FIRST HOUR candle is broken
TARGET:
"TRAILING THE SL or BOOK AS PER YOUR STRATEGY"
STOP LOSS:
At the inception of trade, SL will be the "HIGH" of the FIRST HOUR CANDLE which you can TRAIL as the session progress
PS:
"Idea published is in relation only for the trade to be taken on 14/09/2018"
If the position remains in your favour and you have good margin carry forward the position to get that extra edge of the profit
"BE PATIENT" and "BOOK HUGE PROFITS"
For more such INTRADAY trades and POSITIONAL trades
"STAY CONNECTED" and if you are the idea stands profitable, do me a small favor by posting the image of your profits
Thanks,
Siddharth