My Analysis: S&P 500 Future is likely to move upward till it touches target @4540. Following factors support the Analysis
1. Fibonacci Retracement at 50%.
2. Although there is a demand zone @3226, price does not move to demand zone with single fall i.e from @4816. So less chance of moving downward again.
3. Bollinger Lower band acts as a support.
Based on Fibonacci Retracement Analysis (plus Resistance @397), Wipro is likely to Bounce back within the range of Rs 397 - 415. Keep the Stop Loss at Rs 380. Set Target Rs 600. Risk(35):Reward(185) R:R ==> 1:5.28
