Monday, 21 April 2014

Wipro @channel support

Wipro is trading in a well formed up trending channel since SEP last year. Today's closing is exactly at channel support. 

  • 100 days EMA at 545
  • 5 month close EMA at 545
  • Trend line support at 539
Combining Ema's and trend line it can be concluded that 539-545 is support zone below which counter will go in positional sell for target of 520,510 with stop loss of 545. 

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Happy Trading. 

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