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WIPRO : Price shot up after a PIN BAR buy signal

After printing a PIN BAR buy signal price jumped up strongly from 555 level of key support & next level of resistance is seen near 586. We already had two buy entries on this stock using lower & higher timeframes with a current stoploss standing below 556(for lower timeframe) & 530(for higher timeframe) targeting 586 level of resistance to reach in coming days. Using lower timeframes, we usually open trades for a very short period like 2-3 days & using higher timeframe analysis, we open trade to hold it for 2-3 weeks as the stoploss & target becomes wider here.

PLS NOTE : All chart analysis posted here are the author's own idea of trading for educational purpose only &  not any form of advice or recommendations or opinion to anyone.

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September 1, 2015

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