Points to Observe
1. After channel breakout the upside rally should continue but if we observe the chart even good positive volume breakout turned into selling volume after breakout indicating Weakness in buying side.
2. At the same time we have to consider the Horizontal Resistance, At that resistance market is fighting which means the resistance will break...
HERE I SEE THAT (THIS CHART TIME FRAME IS 1 HOUR) IN 1 HOUR TIMEFRAME WIPRO BREAKOUT THE CHANNEL NOW IT CREATE A NEW CHANNEL IN 1 HOUR TIMEFRAME HOPE THIS CHANNEL IS TRADED WHEN IT COMES DOWN WE BUYING AND WHEN IT GO THE UPPER TRENDLINE WE SELL. THIS IS MY VIEW IN WIPRO.