this is trail of my new stretegy for stocks which results are coming please dont trade . as wipro result is coming on 12 jan . if price come to our demand zone near result days then it will give a good bounce.hope for best .thanku
Wipro: We have seen strong Demand Imbalance causing good bull Run.. but "Shortening of Demand thrust" indicates a small Reversal or correction.
Big correction is due as per Elliott analysis.
Trade Facilitation to the upside is good, so far.. but it has to breakout from the current balance, if not - Look below and fail, or Look below and accelerate..
Wipro seems to have completed a W-X-Y correction at its recent lows. Note that X wave is a triangle which is clearly evident. The subsequent upmove can be charted out as an 1-2 with waves 3-4-5 still awaited
A lot of the India IT stocks are headed up - see recent posts on Mindtree/TCS