Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

Short Wipro for 350 Target

43 sec read


[wp_ad_camp_5]

 

Stock : Wipro Ltd
CMP : Rs 412
Reco : Short Sell below 400 or short near 450
Target : Rs 350
Maximum upside : 450
Support : 401
 
 
This stock is testing news lows once again and currently trading at 412. Which breaks the previous low of 414. And
this stock has support at Rs401. In case of any swing trading activity witnessed in this stock it can move upto 450 in upside
which is the 30 day EMA line. Normally swing trade occurs between 10 day SMA to 30 day EMA.
 
Its good to watch this counter and try to short near 450 levels in case of any swing trading activity or short below
400 for a target of 350.

Short Notes to Swing Trading(Trading Action Zone)
On the chart above you can also see the traders action zone which is the area in between the 10 sma and 30 ema. This is where you, as a swing trader look for reversals back to the upside when going long and reversals to the downside when shorting stocks. I’ve drawn arrows on the chart to show where you get buy signals and short signals to enter a stock.

 
Even if you are not participating in this counter. It is worth watchable.
 
Regards,
Rajandran R
Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

GANN Shorter term update for Nifty as on 15…

  GANN Supports zone near 5005. More weakness below 5005 as next support near 4780. Avoid longs if nifty dips below 5005. Source:...
Rajandran R
5 sec read

Larsen and toubro update

  Trailing Stop Loss Update for Larsen and Tourbo   Cover Shorts and reverse the position if LT closes above 1665. Source: www.marketcalls.in
Rajandran R
6 sec read

JP Associates is getting Weaker

  1)Stock is showing massive MACD divergence 2)Price is currently below 13,34,55 EMA and these levels could act as a resistance in coming sessions. 3)Stop...
Rajandran R
12 sec read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More