As the chart suggest, Wipro is near it strong support trendline of 249 levels. The stock shows weakness due to weakness in all Nifty IT sector. Rupee appreciation is the only reason for decline the IT sector today. One may go short if the stock slips below 248 levels as confirmation for Intraday as well as positional trend reversal strong signal.
Comment:
Orders still on the panel, Making tripple bottom on the daily time frame. If rupee strengthens than we might see big correction in this stock otherwise it may be a reversal point for the WIPRO.
Comment:
Still on the bed, hope that the stock may reverse from these levels, Dollar strengthen in last an hour.
Trade active:
Short effortlessly, heavy unwinding in 250 PE and substantial writing on 250 CE shows that new shorts have been added in the stock.
Trade active:
Trial the SL....
Trade closed: target reached:
Profit booked around 244