Hello guys, I.T sector looks week to me and yesterday Nasdaq also saw a significant fall so we will be looking to short I.T stocks for a few days, preferably on a pullback.
Wipro has made a double top pattern also known as M pattern by some traders, what it means is that the price faced rejection from a specific level 2nd time and is not wanting to go beyond that...
NSE:CYIENT
from the IT rally CYIENT has taken some good corrections
and now it is back to its previous demand zone .
it is still taking rejections from the given trendline
I expect a good breakout in coming days.
CNXIT also looks good after breakout but not much bullish
we can buy it after the breakout of both the trendline and
the previous 15 days...
One can initiate swing long in TECHM for 3-4 weeks
SL below 1650
1st Target 1950
2nd Target 2300
Thanks! Do like it and Comment your views below..
NSE:TECHM
WIPRO as per daily chart analysis stock above 698 level for a target 708 level. Tomorrow the nifty will go down initially and then bullish reversal will take place and market will continue to be bearish. Don't hold long positions.
WIPRO as per daily chart analysis it has broken the consolidation zone and stock above 677 level for a target 687 level.Do note nifty50 tomorrow will fall initial hours and it should take support either at 16891 or 16791 for it bounce back.
As you can see in the chart, COFORGE is consolidating from last so many days,
.
Today the stock has given the breakout, so for tomorrow if stock goes above 5490, you can buy this trade for the target of 5600,
.
You can see in the chart stock has made the same pattern in the previous day's.
Can correct till the support line and the 100% retracement levels of fibonnaci.
Bears can go ahead and sell for targets of 1100-1070. Bulls and investors can wait till it takes support at the given levels of 1070.
LOGIC,LEVEL AND TARGET WELL MENTIONED IN THE CHART
NOTE -The above interpretation from the chart is my personal view and doesn't guarantee any success.
(Do talk to your financial advisor before making any investment decisions)
please like, share and comment if you have any suggestion regarding this analysis.
Wipro along with the whole IT sector has been correcting and now consolidating from the past 3 weeks. After stellar performance in the second quarter of FY 2021-22, IT sector is preparing for another bull run. This time along with TCS, Infosys and Wipro will also make new highs.
My choice for short term and intraday is Wipro, CMP 660/- for targets of 684, 720 and...
As per my view and charts analysis, I am seeing a 20% upside in TCS from the current level. There is strong support at the bottom, making a perfect bounce from the trendline.
CMP: 3500
TARGET: 4200
Happy Investing!!!!
LOGIC,LEVEL AND TARGET WELL MENTIONED IN THE CHART
NOTE -The above interpretation from the chart is my personal view and doesn't guarantee any success.
(Do talk to your financial advisor before making any investment decisions)
please like, share and comment if you have any suggestion regarding this analysis.
Bollinger band - Stock is much stronger than previous candles at the same level acc to standard deviation
Multiple trendlines breakout possible on closing basis as well as all time high.
Also, there has been a good correction in IT sector, and can show recovery now.
Seeing the past performance and recents pacts of the company which have taken place in the last 3 months, it is bound to outperform its past revenue.
CMP 643/-
SL - 630/-
Target 700+ (trailing)
After forming a temporary top near 1548 zone , the stock has given an impulsive fall. This suggests there should be a zig-zag correction. One should buy the stock on current levels with SL of 1370 & look for a target of 1455-80 zone.
