WIPRO - SWING TRADE - 23rd December #stocks

WIPRO (1W TF)

Swing Trade Analysis given on 23rd December, 2023 (Saturday)

Pattern: RECTANGLE BOX BREAKOUT
- Breakout of Resistance - Done ✓
- Volume Spike near Breakout - Done ✓
- Retracement & Consolidation - In Progress

#stocks #swingtrade #chartanalysis #priceaction #traderyte #wipro

Trade active:

WIPRO Update - 15th Jan, 2024

- Both Target Levels Achieved with Strong Buildup
- 17% in 15 Trading Sessions

- TSL On

#stocks #swingtrade #chartanalysis #priceaction #traderyte #WIPRO

Comment:

This is an update for Wipro for which we were very quick to put an update first thing in the morning when the stock hit an overall of 17% in 15 trading sessions.

However, after the 10% Upper circuit opene out, it trapped all the buyers going up another 2% and then feel drastically by 6% (with volumes).

My questions to you are:
1. Did you book your profits when it hit our exact target levels that we marked out?
OR
2. Did you not place your targets like I did because even I did not expect such a massive jump in one session

Please write to me in the comments so that we can under the mindset.

Trade active:

WIPRO Update - 25th Jan, 2024

- Wipro is at our Support Level and has formed a double bottom on a Daily time frame
- Small SL with a better RR till previous high

Comment:

WIPRO Update - 30th Jan, 2024

Re-entry Possibility:
- It formed a clear Falling Wedge pattern on a daily time frame (charts are shared)
- It has broken out today from the falling wedge pattern
- Small SL for a better RR
- Target will be previous high for starters

#stocks #swingtrade #chartanalysis #priceaction #traderyte #WIPRO

Comment:

WIPRO Update (as of 17th March, 2024)

Previously:
- After giving up a 17% Return in Jan,2024 itself the stock had achieved the Target Level
- We had also informed in advance for another entry possibility
- Thereafter, we had achieved the same Target Level with a breakout in Feb, 2024

Present:
-And after reaching the 545 levels; in the last 1 month it has again retraced to 520 levels currently with a consolidationg and accumulation going on
- The stock is taking support on our Target Level, i.e Resistance has become a Support

Going Forward:
- New Target Levels have been updated
- We are shifting from a Weekly Time Frame to a Monthly Time Frame for a better structure and more clarity
- Looking at another Small SL for a better RR

* Disclaimer