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Wipro – Swing trading idea | Bound to be doomed!

wipro - swing trading

Wipro – Swing trading:

  • Things are looking bad for WIPRO. 30% down from ATH, still under heavy selling pressure.
  • Invalidated the weekly demand zone between 525-545. Expect more selling until and unless this zone is reclaimed.

Wipro – Swing trading | Update (11 May):

The price is going as expected. There can be pullbacks to liquidate excessive shorts.

Wipro – Swing trading | Update (17 May):

  • The initial plan worked out perfectly. We saw about 10% fall from our levels.
  • A potential short-term relief rally is on the cards.
  • Either take longs with stop loss as 462 and ride it until 520-530.
  • Or wait for the price to reach and react with 530-540 and then open shorts accordingly.
  • The HTF is still bearish.

Important links:

Rajat Kumar Singh
An engineer turned trader who is passionate about creating clean and insightful charts. Rajat works as a Community Manager at TradingView, a popular charting platform with over 50 Million active users. He started this blog with the aim to educate fellow traders offering them valuable insights on different aspects of trading. Join him in his journey to becoming a better trader! ❤️

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