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WIPRO LONG TERM INVESTING OPPORTUNITYBullish on Wipro for the long term coz: 1. Rounding Bottom Pattern in Weekly TF. 2. Crossing 200 dema 3. Breaking 10-month-old resistance 2nd time in a daily timeframe with an increase in volume and holding on 4. Trend: UP Trend in daily pattern; making HHs and HLs over daily TF trendline **BUY @ 417 **SL @ 395.75 **TGT 1 @ 610 **TGT2 @ 720 **Holding Period is approx 1 yr **RR:13 **Growth Potential 72% ** Note: In rounding bottom pattern, speedy growth happens in the later phase, do not exit early. You can trail your SL but not very tightly as rounding bottom pattern may give deep pullbacks that may through you out of the trade.
NSE:WIPROLong
by jvashisht1
2
Coffee Day opens up 2 wild targets that can help swing traders pCoffee Day opens up 2 wild targets that can help swing traders profit up to 300%? Coffee Day stock has now moved from Stage 1 to Stage 2. This indicates a start of a new uptrend. What's been brewing so long? (in technical lingo) The basing stage has taken about 18 months from its all-time low of Rs. 14.25 in June 2020 The first weekly contraction was sharp and deep. It formed a low of 20.20 and moved to make a high of 49.65. The flag pole rise was a good 145% in a scant six weeks. The second contraction was again deep. The final weekly pivot range was in the narrow range of 13.73% and this took a good six weeks as well. The current week’s close has witnessed a convincing breakout, that's supported by high volumes. A Wide-Ranging Bar (WRB) that formed this week has decisively closed at its highest levels and broken above on the weekly charts. It's time to perk up and watch out for more. This is the time where the market participants can continue their buying frenzy in truck loads. The early phases in the last two weeks have already seen significant buying since the 18th Oct 21. The higher weekly volumes show that Institutional buying has been in progress for the past seven weeks. The institutional buyers seem ready to fire on all cylinders. What lies in the weeks ahead? The possibility in the coming week itself strongly seems to suggest a gap up open on Monday. The coming two weeks could lead to follow-through in price action with a high probability of the stock continuing to close at its extreme highs. In all probability, this stock has a strong potential to turn into a +3X multibagger. Potential targets for the upcoming first half of 2022 are; Target 1 = 76.80 (+55%) Target 2 = 89.55 (+80%) Target 3 = 99.45 (+100%) What looks possible further out into the future? The second half of FY 2022 could well see the following wild targets opening up.* Target 1 = 195.70 (+295%) Target 2 = 216.80 (+337%) *Subject to the uptrend remaining intact. What are the hurdles ahead? The range of 76.80 to 89.55 could well offer strong resistance. It will be interesting to see how Coffee Day powers through these ranges. These ranges should offer an opportunity for a healthy pause, consolidation, and low-risk entry at these higher levels. Once Coffee Day manages to clear and sustain above 99.45 and close into the 3-digit territory. Then the path ahead could well be ready for a ludicrous mode move. (Tesla fans would understand this) For the rest of the guys that means rocket boosters lying in this zone could rapidly take this stock to the higher zones indicated. Here's my Trade Plan - Entry: Test Entry on market open. Add on pullbacks at 44.15, or worst case up to 40.20 - Initial Stop Loss (ISL): Below 38.80 Will keep updating the stock views on a weekly basis. (Depending upon significant price action and market structure changes.) Coffee is best enjoyed while it's smoking hot.
NSE:COFFEEDAYLong
by amar_gr
2