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Trendanalyisis

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
Nifty 50 Weekly Market Outlook July Week 3, 2023Weekly Review: The Nifty 50 closed at 19,564.5 gaining +1.2% from the previous week. The Index closed on a positive note supported by 150 points rally on Friday overpowering bears majorly supported by a +4.3% rally in the Nifty IT index. The index stayed within a tight range of 19,333-19,516 in the previous week. On Macro Economic front, India's CPI surged to 4.8% in June but stays within the RBI tolerance band of 2-6%, this surge is majorly impacted due to delay in the monsoon which has caused supply shock within markets pushing retail inflation to surge for a short-term period. Weekly Forecasts: On Daily charts, Nifty 50 stayed above the channel bandwidth point of 19,433 with upward momentum. The channel since April 2023 contains almost 97.6% of the price action till the present day and hence the channel bounds for obvious reasons now act as key Support and Resistance levels at 19,125 and 19,756 respectively. Evident from the past week's surge, a sustained move above 19,433-19,500 is expected to push index to 19,673 and 19,756 . On lower levels, I feel 19,333 is the first support level where index can see a sideways movement and a breach below this level can push index to 19,224, 19,125(key support) and 18900 levels . Earnings calendar is keeping the bulls in control. This is evident with a positive reaction in share prices, even with subdued earning of IT giants like Infosys, TCS, Tech Mahindra and Wipro that such growth and numbers are being well factored in the share prices. *Disclaimer*: I am not SEBI registered analyst and hence the above market outlook is for only educational study and research purposes only. In no way do I endorse this opinion to take a trade or for any investments in markets in any form by any Participant. Be a responsible investor with proper risk management and keep learning as a true focus.
NSE:NIFTY
by chandakpulkit
Bank Nifty Levels for 24-05-2023In Bank Nifty Upper side 44075-44150 is Important Level and Lower Side 43750 is important level. Previous day Bank Nifty has closed @ 43885. Check Previous Day Level Performance and comment. For any Feedback and Suggestion, please free feel to message us. Disclaimer: Content shared on or through our digital media channels are for information and education purposes only and should not be treated as investment or trading advice. Please do your own analysis or take independent professional financial advice before making any investments based on your own personal circumstances. Investment in securities are subject to market risks, please carry out your due diligence before investing. And last but not the least, past performance is not indicative of future returns.
NSE:BANKNIFTY
by easi2invest
ALKEM LAB LTD: Get in on the Action Now!NSE:ALKEM has recently breakout its resistance level 3300, indicating a potential uptrend. 50 EMA crosses 200 EMA in daily time frame. Traders may consider entering a position in the range of 3430-3460, with target levels at 3640 and 3945. It is important to note that trading carries a risk of loss, and a stop loss at 3300 is recommended to limit potential losses if the trade moves against expectations. As always, it is important to conduct thorough research and analysis before making any trades. This post is not financial advice and should not be considered as such.
NSE:ALKEMLong
by firos_meethal
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