Hello guys, I.T sector looks week to me and yesterday Nasdaq also saw a significant fall so we will be looking to short I.T stocks for a few days, preferably on a pullback.
Wipro has made a double top pattern also known as M pattern by some traders, what it means is that the price faced rejection from a specific level 2nd time and is not wanting to go beyond that for now, so it's a bearish pattern.
The volume profile also shows interest in short side rather than going long. The RSI has started to go weak. 9 ema is above the price.
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Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.