NIFTY IT at risk level as you can see nifty IT daily chart , it taking support at trendline .
and it also broken all pivot lines support levels .
if weekly close below trend line may dangerous
and also it may take next support at 29800 if it continues .
whoever investing now can work with small SL .
do research & learn .
it also forming CUP & HANDLE .
do like my idea if you agree .
Wipro
WIPRO - Inverted Cup and Handle PatternWipro looks to have formed a bearish pattern in the form of Inverted Cup and Handle.
The Entry and Target positions are as marked on the chart.
Ensure to take the position once the channel breaks downward.
This is my view and for educational purposes only.
Share your thoughts on this in the comments section and lets chat to understand this better.
Nifty at major supportNifty is trading at major support but don't go for long until Shows good moment with two 4h candles. Don't scalp at support as we have big dump Today market still have ability to push market down, also Ukraine and Russian war and many other factors are looking bad, so let's wait for momentum fisrt!
Exit your short trade: wiproAs i discussed or as i provided level for short (down side) trade for 2time mentioned in yellow aarow.. letter on also posted exit point mentioned in red arrow...and I've explained by selling 3wipro..
Evrything happened exactly as i explained, now close the previous trade...soon I'll share what side of position we should take in Wipro... follow for more
WIPRO SHORT-TERM SWING TRADE! Hi everyone, Wipro short term swing trade consider buy above: 573, target: 584, stoploss: 567.
LOGIC BEHIND TRADE: Stock recently given correction & formed double bottom & given breakout of it`s resistance (target identified from harmonic xabcd pattern level 0.886) stoploss is taken previous swing low. NSE:WIPRO
WIPRO | Short Term Opportunity | LONGHola,
Wipro is Available at decent discounted price than it's pears . Within 10-15 days It should regain it's 675 levels . Following trading position can give you decent trade for this month.
Important Signal to watch : Double Bottom | RSI Divergence | Trend Line Breakout Can Happen within 1-2 sessions | Started Travelling above daily point of control line
Buy Range - 550 to 575
SL- 530
Target- 675 (15-25 Days) | 750 (2-3 Months)
Best Regards
Vishal Malviya
WHERE IS NIFTY IT HEADED ?Nifty It has been showing no particular direction for the past week, sometimes on a solid green day it manages to fall and sometimes seeing Nasdaq it seems to gain some points but what is the real direction of this sector?
I have taken the top 5 Nifty I.T stocks that have the most weightage in this sector and have analysed them.
Below are all the top 5 constituents of cnxit.
1. INFY
2. TCS
3. HCLTECH
4. WIPRO
5. TECHM
INFY
I can spot LH LL formation in this and seems like it has had it's pullback and will continue to correct itself.
TCS
TCS has been following this support trendline for sometime and it can be taken into account that after double top tcs went for a pullback and again a low can be made near 3550 levels.
HCLTECH
HCLTECH is facing resistance from 1200 levels which is psychologically and technically a strong resistance level and now it seems like it's due a correction.
WIPRO
Took a bounce from the demand zone but is still below the 200 ma and flip level.
TECHM
Techm looks like that it is sitting on a crucial level and the next few candles can give us a sense of direction.
Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding.
Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
These are just my views and I am not a SEBI registered analyst so consult your advisor before taking any trades.