- Wipro share price opened nearly 6% Down following its results announcement. But despite the volatility if one sees the Larger time frame the stock has not moved that much. Weekly chart shows stock still stuck in a 100 Point range.
- Month chart shows price in consolidation. This consolidation is happening in a larger up trend. So mostly it resolves in favour of Bulls. But then its tough to predict the exact direction and timing of breakout.
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- Crude oil near apex of the triangle should give a breakdown or breakout soon.
- bullish if stays above 46.90 and bearish below 44.40 levels.
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- Netflix near 200 SMA. Recent attempts to stay above 200 SMA has failed as shown in first chart. Crucial chart for Netflix is the Month time frame which shows contraction. This contraction can soon lead to a bigger breakout or breakdown.
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- 30 Minutes chart shows support zone for the day. Closing below this level may lead price towards the GAP shown in one hour chart. Bulls need to stay above the support zone to avoid bigger weakness.
- First chart shows price below 50 Day SMA.
- Chart 2 and 3 shows price testing crucial support zone. Close below 100 SMA may lead to bigger correction. For Crude Bulls price must move back above 50 SMA For resuming the bigger up moves.
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- One hour chart moving sideways in a range between 2140 and 2170. This range must resolve for bigger moves to happen.
- Tata Steel is moving up from its long term support of 190 levels. Price in weekly chart is out of another bullish pattern. Daily chart has a golden cross in place. There can be corrections in between But an up trend is clearly in place. Next big hurdle for this up trend will be the falling resistance line from 737 as shown in chart 2. For a bigger up move price must move above this line.
- PREVIOUS UPDATE ON TATA STEEL WITH LONG TERM SUPPORT
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