Wipro Looking for Support

אתמול

Hello friends good evening, I have prepared a chart for one of my trades in Wipro which I am sharing with you all. So as we can see the Wipro ADR ( American Depository Receipt) listed in the American market is trading down by 4 to 5 percent. In such a situation we can expect that we may see a similar decline in the price of Wipro shares tomorrow or in the coming session. Therefore I have marked a demand zone on its weekly chart and hope that the price will get a bounce from this demand zone, which will be helpful for us to trade on the long side.

Different traders follow different setups and indicators to understand support bounce, I would like to understand it only through price action on smaller time frames and will update accordingly.

I hope you liked the idea if yes then please like and share it, thank you all.

Best Regards- Amit.