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[Turtle] Wipro 370PE Short IdeaShort Wipro May 370 PE a 8.25 Note - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all. ======= I use shorthands for my trades. "Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.) "Intraday" -means You must close this position at any cost by the end of the day. "Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. ======= I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share. ======= Like - Always follow a stop loss. In the case of Intraday trades, it is mostly the "Day's High". In the case of Positional trades, it is mostly the previous swings. I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives. =======
NSE:WIPROLong
by Amit_Ghosh
Hammer PatternHammer candlesticks typically occur after a price decline. They have a small real body and a long lower shadow. The hammer candlestick occurs when sellers enter the market during a price decline. By the time of market close, buyers absorb selling pressure and push the market price near the opening price. The close can be above or below the opening price, although the close should be near the open for the real body of the candlestick to remain small. The lower shadow should be at least two times the height of the real body. Hammer candlesticks indicate a potential price reversal to the upside. The price must start moving up following the hammer; this is called confirmation. Script = Wipro Time Frame = 1 Day
NSE:WIPROLong
by Jainshashwat
Wipro... weekly chart analysisAfter the high of 739.85 the stock corrected almost 50% with strong support at levels around 370-375. Double bottom formation with stock price closing near the 40 weekly moving average. The price crossing the 40 weekly moving average with good volume would be a positive sign. Important levels to watch: 416 which is the neckline with initial targets of 427 and 450. Might see some resistance at 450, beyond which 495-500 could be a possibility in the medium term. Keep a strict stop loss at 5-8%. Also price falling below the support zone of 376 would trigger caution. Note: Not a buy/sell recommendation. Do consult your investment advisor.
NSE:WIPROLong
by TheUnlearningOne
WIPRO analysisWIPRO , the IT giant has consolidated heavily for a long time and has formed a good bottom kind of structure , with weekly candlle showing good buying pressure from lower areas and also sustaining above support of 390 levels , this is looking good for an upmove towards 420-425 levels , with SL of just 2.5% and targets of almost 9% risk to reward ratio is highly in our favour and looks good for a swing trade , Do follow for more trade setups and swing trades
NSE:WIPROLong
by sniper1290