Wipro: Strength in IT Sector
Updated
The price structure analysed on multiple parameter for better understanding.
Weekly Chart
✅stock corrected and reinstated to fib 38.20%
✅strong base with rounding bottom
Daily Chart
✅triangle breakout with volume
✅golden crossover confirming strength in stock (50 & 200 ema)
✅price consolidating after the breakout
Index - Nifty IT
After a year of range bound consolidation, index showing solidarity and possible breakout.
Thanks
-aj
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
Weekly Chart
✅stock corrected and reinstated to fib 38.20%
✅strong base with rounding bottom
Daily Chart
✅triangle breakout with volume
✅golden crossover confirming strength in stock (50 & 200 ema)
✅price consolidating after the breakout
Index - Nifty IT
After a year of range bound consolidation, index showing solidarity and possible breakout.
Thanks
-aj
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
Note
rising volumeNote
25% return in 6 months, solid momentum.
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.