Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Short Wipro for 350 Target

43 sec read


 

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 Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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