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.

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