This is not an investment advice, only for academic purpose, apply proper risk management
After a disappointing result, Wipro spooked 10% on thursday and friday.
At present,
Monthly TF - Last month was TD 9, chikou span will face resistance from candlestick at the region of 340-320
Weekly TF - This week was TD8, next week is likely to be TD9, unless a close above 400.
Daily TF - TD countdown 13.
Weekly RSI is showing multiple positive divergence.
Market has a strong support near 350-320 region.
Therefore, it can be presumed that the market is likely to WIPRO is likely to bottom at around 350 next week.
Tom De mark count 9 and 13 can provide good top and bottom signal.
Recently, HCL tech bottomed on 890 on the week it flashed TD9 signal on weekly basis. From that upmove of 15 % in 3 months.
Carborundum universal bottomed on 660 on the week that flashed TD9 signal on Weekly and TD13 signal on daily TF, upmove around 40% in 4 months, which i missed.
Bank nifty and nifty recently flashed TD9 sell signal on weekly TF
So, my strategy will be to buy @ 350 with portion addition upto 320. After 62% retracement of the previous upmove, it is highly unlikely that WIPRO will move to 263, the next support.
Investment horizon -long term
After a disappointing result, Wipro spooked 10% on thursday and friday.
At present,
Monthly TF - Last month was TD 9, chikou span will face resistance from candlestick at the region of 340-320
Weekly TF - This week was TD8, next week is likely to be TD9, unless a close above 400.
Daily TF - TD countdown 13.
Weekly RSI is showing multiple positive divergence.
Market has a strong support near 350-320 region.
Therefore, it can be presumed that the market is likely to WIPRO is likely to bottom at around 350 next week.
Tom De mark count 9 and 13 can provide good top and bottom signal.
Recently, HCL tech bottomed on 890 on the week it flashed TD9 signal on weekly basis. From that upmove of 15 % in 3 months.
Carborundum universal bottomed on 660 on the week that flashed TD9 signal on Weekly and TD13 signal on daily TF, upmove around 40% in 4 months, which i missed.
Bank nifty and nifty recently flashed TD9 sell signal on weekly TF
So, my strategy will be to buy @ 350 with portion addition upto 320. After 62% retracement of the previous upmove, it is highly unlikely that WIPRO will move to 263, the next support.
Investment horizon -long term
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.