Both have similar structure and rejected off HTF resistance. Break of Pinbars with volume would resume bearish continuation.
Wipro has made a symmetrical pattern and it broke down but tested back again STOPLOSS - top of triangle
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: 1. EMA...
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 Target 235 Positional- Sell at 253 Stoploss 262 Target 230 (or Sell below 245 Stoploss 251)
NSE:WIPRO Expected PRZ 260 - 265 Bears may get active SL 272 T 255 249 243 Only for Study Purpose
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
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.