Prices have formed Rectangle Pattern and traded below it decisively. One can trade the reversal pattern by initiating the short trade for the target of 322.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
It 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
Based 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...
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"
...
the stock had not performed yet , and is one of the most badly beaten stocks in the IT sector thus , now to maintain the index the stock need to perform and current structure as far as its above 650 looks very well!
