Wipro is a good trading pattern script, always follow the cyclical levels without any Deviation..
From November 2014, it has initiated four cyclical trades (as marked). The last "sell" cycle not yet completed, still it is falling, (it does't mean that sell at this level).
Now, how it will reverse?, either it should reverse from the bottom or it should stay above our blue level (where the blue level has not yet initiated).
If it touches the bottom...it is going to be a good opportunity for minimum 10% move on Wipro.....
This is our Home work. Our followers, if you want to make money...keep watching Wipro...if it initiates buy, as per our criteria...forget, about market...and keep minimum 5% target and exit....
When it happens, use the opportunity and encash it.
Case Study - Tata Steel
The same pattern happened in Tata Steel, had a steap fall and touched the bottom....almost 20% move from our bottom level........our buying opportunity was at the bottom..
One should understand the cycle and do homework...before entering into trade..
The above post is to guide our followers and to educate how to take bottom fishing, this is not a trading call... We are not a tips provider....We educate everybody to sustain on your own in this market....
Learn and upgrade your knowledge......."Knowledge is Power"
