!!SWING TRADE IN WIPRO!!(DEC FUT)
VIEW
-STOCK IS ALMOST NEAR ITS OVERSOLD ZONE
-THERE WAS A BREACH OF 61.8% RETRACEMENT LEVEL WHICH WAS COVERED
TRADE VIEW
DEC FUT TRADE
BUY@243
STOP @240
TARGET 1@246
TARGET 2@249
QTY:3200
LOT:2
WIPRO has been in a downtrend for quite some time now (5 months plus) and there is monthly support on the charts. The price has retraced to 0.618 Fib which is acting as support as of now.
This can be a potential reversal zone for WIPRO.
Current Market Price (CMP)- 237.05.
Confirmation only when WIPRO trades @ 242.2
Stop Loss (SL)- 231
Will Post a view again...