Check the Double top breakdown. In last session it did break neckline of the double top. Target for this pattern is 250 but some support around 254, so we can take trade for 254. Keep in watch-list.
NSE:WIPRO
Wipro is falling from 300 zone. I see Support @ 256.50. Enter @ 256 and Exit @ 261.50. If it hit stoploss then short till 250.50. Levels are Mentioned in chart.
Honestly, I am not sure that its an excess or a breakdown but, volume is normal.
Normal volume indicate that, if price not bounce OR not create a TAIL before the close then its breakdown. Let wait and watch this closey for learn.
Yes traders and investors eye will look for this stock to buy at this area 265-268 is great to buy with stoploss 265 below and...
Wipro is trading sideways between 280 and 300 as we could see in chart. Currently the stock is in the lower bottom of the range making it an opportunity from Risk-Reward perspective to go long.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas....
Prices have broken out of a down-sloping wedge pattern. We see a positive divergence in MACD histogram and MACD has given a buy signal.
Buy at: 290-295
Target : 303-305
SL : 285
Wipro has formed bearish H&S on 30 and 60 minutes chart. Breakout has already taken place. Short moving averages has crossed over to the down side. Volume on breakout is quite high. We'll sell below 280 (ensuring lower top lower bottom) with stop loss above 289 for target of 271 & 260
- 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
The 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....
Wipro
Short level spot b/n 296-297
SL: 301.5
Targets: 282/278
Reason: Twizzer TOP / C wave down expected from 296-297
ADD LONGS FROM 278-282 LEVELS AS THE BUYBACK IS EXPECTED SOON AT 325
Wait for create some TAILS for short selling. On the daily chart, safe selling will trigger after trading below prior candle's low.
From the 15min chart, wait for break down level 297.
WIPRO has formed a double top and a bearish engulfing followed by an inside bar on daily.
Can go short below the last candle for targets mentioned at neckline of double top and next target at long term support level .
Stop loss above the high of double top .
