Hello guys today after seeing the chart i got these things
1. If goes down then target could be taken at 700 This could be taken as a maximum target
2. Can be taken if break the nearest gap shown on the chart
3. The Moving Averages making a crossover shows up a bull signal
4. Time Frame :- 1 Day
A frypan bittom pattern which is at the...
Wipro seems fall and consolidations over on daily chart, it falls very sharply from two three months made a bottom and breaking first resistance above bottom and close above good on Bollinger bands too on daily charts so for swing and positionally on both way it is looking good breaks a major hurdle on Relative strength indicator too.
CAUSE OF LONG
IT sector has been under performing from the last few months and the Nifty IT index has taken a major support in the range of 26300-26400.
A similar pattern has formed in Wipro which has taken it's previous major support at the levels of 400.
Since Wipro has corrected more than 40% from it's ATH, there is a high probability of sharp up move once recovery starts...
WIPRO based on 15min chart pattern as per my post 25.07.2022 was in Make or Break on 26.07.2022. Today it has broken and heading to fill the gap @ 394.
Below 401 then Target 394
Happy Trading to all...
Stochastics are at low shows to go high and touch 473.85 till mid-October according to the Fibonacci tool Analysis
Wipro Released its Q1FY2022 results where it grew its revenue but issuing dividends to the shareholders made an unusual expense to the company.
CFO Jatin thinks, issuing dividends is the reason behind its increased expenses and fall in NET...
Let's understand the RSI Bullish Divergence before we take it into account.
RSI Bullish Divergence
Like all indicators,Divergence also fails sometimes, Success rate of RSI Bullish Divergence is 40-45% for Trade
RSI Bullish divergence will provide good accuracy in Daily Time Frame . As per my view avoid shorter time frame anything below 60 mins
THIS IS SHORT TERM TRADE .
INTRADAY TRADE OF TARGET 414 OF 2 %
There is daily support zone and next resistances zone on hourly chart is 414
The SGX nifty is also up 100 points which indicates bullishness in market .
For short term confirmation the stock is above moving average 20 which means the trade is correct .
A stop loss ...