NSE:WIPRO Weekly price at a good resistance zone with shrinking green candles giving a slight negative bias of a quick short. Daily is in an uptrend after the recent TL break. To confirm a trend change, the new TL needs to be broken in daily which has not yet happened. However, we look for an aggressive entry based on the 15 min TF based on the following:
Reasons For Trade- 1> Wipro daily and Weekly In downtrend
2.Price closes below daily important support of 253
3.256 is strong resistance of horizontal line and 200 EMA
4.Price about to break channel support
5. Risk Reward 1:2
Intraday Sell below 245 Stoploss 251
Positional- Sell at 253 Stoploss 262 Target 230 (or Sell below 245 Stoploss 251)
SELL WIPRO FUT BELOW 265 TGT- 259 254 249 Closing base SL-278
How to follow our calls & earn maximum profit from our calls
1. You should always keep the STOP LOSS. In the market only SL will SAVE YOU
2. When Target1 is ACHIEVED, TRAIL your SL to BUY/SELL PRICE.
3. Subsequently when Target2 is ACHIEVED, TRAIL your SL to Target1.
4. Subsequently when Target3 is...
PRICE IS MOVING IN A PARALLEL CHANNEL
PREVIOUSLY WHEN PRICE TOUCHED THE CHANNEL TREND LINE IT FORMED A ENGULFING CANDELSTICK PATTERN
298 SUPPORT TURNED INTO RESESTENCE WITH A GRAVE STONE DOJI
ONCE 282 IS BREACHED ,THE NEXT TARGET WOULD BE 267