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Technical

Remarkable Breakout in MPS LTD.Good morning Guys! Here is a potential trade set up for next week. Providing you some pointers for MPS LTD. >>MPS Ltd experienced a beautiful breakout from a well-defined rectangle pattern last week >> As we see in a daily timeframe, it was religiously following a rectangular pattern since more than 1 year, it is more like a broadening rectangular pattern. >> After witnessing breakout it has retraced back to its breakout zone and again bounced back as bulls got activated, it seems lot of juice has still left. Sales and profits are also looking promising. Now question comes, How to trade in this zone as it has already shown significant moves ? So, Checks these pointers out to understand it. >>Either we can take entry while it retraces back to its BZ level or it gives a good upward move after little accumulation. >>IF it comes back all the way to 1460 that would be our trigger point. >>Now in second scenario if it does not give a pull back then we will wait for little consolidation and if we find a sort of engulfing type green candle then also we can think of taking entry. STOP-LOSS. Now stop loss would be deferent in both the scenarios. First scenario: Buying at Breakout Zone- we can go with 5% of stop loss. Second scenario: Buying higher level- In this case we will have to with higher stop loss, that would be 12%. Targets totally depend on your patience level. If you find this analysis helpful, please consider boosting 🚀 it. If you have some suggestions and any question please post in comment section. Please note- I am not SEBI registered, so do your research before investing.
NSE:MPSLTD
by BullishLine
Breakout in WIPRO ?Despite a negligible decline in Q1 earnings, Wipro has experienced a strong breakout today. While there has been some profit booking and a minor correction after the significant momentum, it would not be accurate to consider it a false breakout. In fact, there is still significant potential for further growth. After a 50% correction, Wipro is now set for a promising upward move. The IT sector, including companies like TCS, Tech Mahindra, Mindtree, and Infosys, has recently shown strong momentum. This suggests that Wipro might join the rally and experience similar upward movement. Considering the current price range we will not set the target more than 6% at this juncture. As an another strategy we can also wait for the price to give a pull backs to its breakout line and then taking the trade will make this trade less risky. It was just my analysis. Do your own due diligence before investing.
NSE:WIPRO
by BullishLine
VOLTAS weekly technical analysis by Elliott Wave theory &NEO I am trying to analyzing of VOLTAS stock through Elliott wave theory on weekly basis. Since march 2022 marked as low & completed 8 wave (5 Impulse + 3 Corrective). Hence seems this chart Voltas on present consolidation phase it means BIG person on buying on intrinsic value & to be making Ist wave of Impulse. first wave may in triangle pattern or some other wave. Although at present time taking is more as previous wave. means it may coming soon in UPTREND.
NSE:VOLTASLong
by pnjakh1984