Top 2 ‘Buy’ & ‘Sell’ Intraday Picks for 21st January Trade 5/5 (1)

Intraday Tips

(1) Wipro:

Technically, the stock is trading at fresh weekly and monthly highs. It has given Price breakout from Rectangle pattern on Daily charts in the last trading session and has also witnessed a strong deliverable quantity. This trend may continue in short term as well as in intraday time frame above the immediate resistance of 347.50.The stock has also announced strong Earnings for the the quarter ended Dec 2018. A good set of numbers may also act as a trigger for intraday demand surge.

Trade Date- 21/01/2019

Intraday levels for the stock-

Action
Trigger Price
Stop Loss
Target 1
Target 2
BUY >347.90 343 353 357

(2) Dish TV:

After a brief period of bounce back rally, the stock has already resumed its underlying downtrend. A zoomed out look at daily charts also display a strong downtrend in motion and every bounce back witnessed in the stock is sold into. A ‘lower high’ ‘lower low’ swings display control of bears in the counter. The stock is already trading below the major support levels of 20, 10 EMA and is poised to give a further breakdown below the immediate support of 33.40.

Intraday levels for the stock-

Action
Trigger Price
Stop Loss
Target 1
Target 2
Sell <33.40 33.85 32.90 32.20

*All levels mentioned are of cash segment.

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Author: Traders' Chowk

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