Still Bullish with Wipro -- if conditions met
Updated
I am sharing wipro chart.
We have seen wipro results for the quarter and it say its not up to the mark.
But chart is saying a different story.
Have a look at the chart I have shared with you.
Despite of so much ups and downs in Nifty and the whole global markets...
Wipro is not ready to give up.
Looks like some kind of accumulation is going on. And RSI is showing some strength.
So far so good...
We can still play with wipro specially if it closed above the trendline I have drawn, which is actually holding it for any movement towards north.
If we get a closing above this trend line we can look an upside movement in. the stock
First target will be 445, as this was the major recent swing.
Above 445 our XABCD pattern will get activated and then we can see a target of 480 in some weeks.
Remember the XABCD pattern will only give you target once we get a strong closing above 445.
Meanwhile we can keep a strict stop loss of 380.
We have seen wipro results for the quarter and it say its not up to the mark.
But chart is saying a different story.
Have a look at the chart I have shared with you.
Despite of so much ups and downs in Nifty and the whole global markets...
Wipro is not ready to give up.
Looks like some kind of accumulation is going on. And RSI is showing some strength.
So far so good...
We can still play with wipro specially if it closed above the trendline I have drawn, which is actually holding it for any movement towards north.
If we get a closing above this trend line we can look an upside movement in. the stock
First target will be 445, as this was the major recent swing.
Above 445 our XABCD pattern will get activated and then we can see a target of 480 in some weeks.
Remember the XABCD pattern will only give you target once we get a strong closing above 445.
Meanwhile we can keep a strict stop loss of 380.
Trade closed: stop reached
Being a strict trader you should close the the trade if it has hit ur SL.Why because we can always reenter the trade once we have our set up again.
Respect market, respect your SL...
Have a nice day to all.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.