📊 Script: WIPRO LTD 📊 Sector: IT 📊 Industry-IT Large Cap
Key highlights: 💡⚡
📈 As per weekly charts of WIPRO the stock touched the all time high of 728 in Jan 2022 and since then the Company hs not reached at this level next resistance is at 612. As per the weekly chart there is cup and handle pattern having resistance of 538 the counter have tested this resistance 3 times in the past. As per the closing of 30-08 the net volume is in green when the resistance of 538 is formed. Considering this we can say that WIPRO is bullish on long term basis. However, considering the smaller time frames such as hourly the stock seems bearish. 📈RSI for the weekly is in bullish zone and for hourly time frame is in overbought zone and stock is trading above 50 EMA and 200 EMA for both weekly and hourly charts. 50 EMA being key support level. 📈 Considering the above analysis we can go long in the stock for period of 1-2 months considering the overall market sentiment. 📈 Key support levels for the stock is 490 and 450 as per the weekly charts
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