Chart patterns insist me to go with above titled opinion
REASONS
1. In Monthly timeframe , WIPRO has been trading inside Ascending channel taking support and resistance (shown below)
2. Middle yellow trendline- Resistance turned Support looks favourable for the bounce.
3. Entry(safe) can be made after a good voluminous Breakout out of the white slanting trendline.
4. SL can the low of the Breakout candle.
As the stock has fell more than 50% , we can even wait for WEEKLY BREAKOUT and then enter upon retracement.
Will update as it moves!!!
Let's wait & watch , how it moves!!!!
NOTE- Just sharing my view...not a tip nor advice!!!
REASONS
1. In Monthly timeframe , WIPRO has been trading inside Ascending channel taking support and resistance (shown below)
2. Middle yellow trendline- Resistance turned Support looks favourable for the bounce.
3. Entry(safe) can be made after a good voluminous Breakout out of the white slanting trendline.
4. SL can the low of the Breakout candle.
As the stock has fell more than 50% , we can even wait for WEEKLY BREAKOUT and then enter upon retracement.
Will update as it moves!!!
Let's wait & watch , how it moves!!!!
NOTE- Just sharing my view...not a tip nor advice!!!
Nota
Good going as expected!!!Nota
still not entering the trade...As expected it gave BREAKOUT....waiting for further retracement!!!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.