Wipro
📊 #wipro Swing Opportunity #niftyit 🎯NSE:WIPRO
As we know IT stocks already fallen much now we might see up move for swing, but we should even keep this in mind that we have budget ahead so better to take entry after budget for swing but before that we can go for intraday trades if find reversal for long.
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns .
📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone).
📌 As One can see, This Pattern has Been Made on Monthly Time Frame, that's why stop loss quite big as per this pattern and time frame. So wait for perfect reversal first then only go for long and ones enter in trade then strictly follow stop loss and here as per my own experience one should keep Stop Loss as closing basis.
(PRZ :- Potential Reversal Zone, SL :- Stop Loss, TF :- Time Frame)
PRZ 1 :- 547.35
SL :- 522 (Closing Basis)
Target 1:- 569
Target 2:- 586
Target 3:- 605 and more Trailing basis
Note:- As Per this harmonic pattern , stop loss is quite big, so Trade on reversal only if you don’t know what is reversal, Kindly note that and ask in live session so next time you could be able to identify reversal by your self. Even ask doubts in comments, below.
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
NIFTY IT PRICE ACTION ANALYSISNIFTY IT index is currently at a potential reversal point suggested by the XABCD bullish crab pattern and low RSI value on the daily timeframe.
The bounce may be up to 0.382-0.618 fib zone extension of CD.
This doesn't mean IT would reverse its trend from here. Before the budget, it might test important resistance 36750. This might be just a correction for the falling impulse.
So, beware and wait for confirmation before investing.
WIPRO Entry level approachingAs per our view presented on 21Dec we initiated Short position in Wipro and now we are heading towards our expected level, we will book profit in our short position @ 600 underline stock levels.
After starting 3 wave corrective move from (3) Blue we are now heading to 590 Level which is expected to find buying. We will be initiating Long trade with levels as mentioned.
Disclaimer: This is not a trading recommendation its just for academic purpose, please consult with your financial advisor and access your risk before taking any trades.
WISH YOU A HAPPY TRADING and PROFITABLE TRADING
Please connect on WA 7058440595 in case you wish to learn more about our trading setups based on Elliot Wave.
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SWING TRADE - WIPRO - R:R @ 1:2Potential Opportunity as Swing Trade in NSE:WIPRO
Risk : Reward - 1:2
ENTRY - 636.00
TARGET - 616.00
STOP LOSS - 676.00
This is for Educational Purpose only, apply your prudence & consult your adviser before any investing.
HAPPY TRADING.....
#nse #swingtrade #nifty #wipro #nifty50 # #priceaction #supportzone #trendline #retest # retracement #bullish #riskrewardratio
WIPRO - Is falling Big- AvoidAs the CNXIT is looking positive we searched for the IT stocks which looks positive for going long.
But one should avoid such stocks which is completely out of the main stream. While all IT stocks are performing well only wipro is going down big, so avoid trading this stock as you have other good choices.
Always gaps are dangerous neither up nor down have some extra caution.
Wipro Ltd. Sector: Computers - Software: BuyWipro Ltd is a leading India based provider of IT Services, including Business Process Outsourcing (BPO) services, globally. Further, Wipro has other businesses such as IT Products, Consumer Care and Lighting and Infrastructure engineering.
CMP: 639.80
Target : 713-760
Wipro Ltd is now on critical support as well previous accumulation Zone. Now market retrace from critical support and fill vacuum phase. if critical support break it go for support 1 i.e. 587.
Used dip to buy and five time investment strategy for long term.
Reasons to Buy:
1) Price reaching for the previous accumulation level.
2) Fundamental reason for demand as the company will distribute dividends, Promotor holding 73% . as well Revenue 61934cr which is good to previous.
3) Best buy before 18th Jan 2022.
4) Vacuum phase or Gaps to fill above.
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Buy Idea for WIPROI do not like writing beautiful stories and convincing you to like my idea. I'll just give you the reasons which makes me feel, WIPRO can be a good buy. Use your own analysis for execution.
Reasons to Buy:
1) Price reaching for the previous accumulation level.
2) Fundamental reason for demand as the company will distribute dividends.
3) IT sector has a tendency to rally during Mid and later half of January.
4) There are gaps to fill above.
Entry tips:
1) Consider Lower timeframe confirmations.
2) Time is a important factor, Look for buys before 18th January 2022.
Profits targets:
33% of trade @ the vacuum area.
45% of trade @ Rs 700 or on the ex dividend day
Remaining portion should be exited at new high or Rs 680.
Wipro double top, short below 711.Hello guys, I.T sector looks week to me and yesterday Nasdaq also saw a significant fall so we will be looking to short I.T stocks for a few days, preferably on a pullback.
Wipro has made a double top pattern also known as M pattern by some traders, what it means is that the price faced rejection from a specific level 2nd time and is not wanting to go beyond that for now, so it's a bearish pattern.
The volume profile also shows interest in short side rather than going long.
The RSI has started to go weak.
9 ema is above the price.
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.
Simple Trade Setup | WIPRO | 10-01-2022 [ INTRADAY ]NSE:WIPRO
Observations:
1) On 1 day time frame, we can see it just closed at 10DMA.
If it trades below 10DMA then we can see some profit booking.
10DMA is placed at 710.91 level.
Major breakout level for upmove is 720 level range.
Please refer below chart : 1 day Time Frame.
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Trade Setup for 10-01-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Simple Trade Setup | WIPRO | 28-12-2021 [ INTRADAY ]NSE:WIPRO
Observations:
1) On 1 day time frame, we can see that it sustain the gap up but closed below 700 level.
Still range of 700-702 is major breakout range.
Please refer below chart : 1 day Time Frame.
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Levels and trade setup remains same as per previous.
Trade Setup for Date: 28-12-2021
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Opportunity for Intraday as well as Swing Trade in Wipro Ltd.As on 27 December (closing) Wipro Ltd. share is at very important Level. It is making a pattern of upward triangle with fix Resistance level of ₹700-702 in 15min chart pattern. For Intraday, If Wipro share Price gives closing above ₹703 It can be great Opportunity to buy with Target 1 of ₹715 and next Target of ₹725 or Take Pivot as Target. And For Swing Trade, Wipro has great Opportunity for the upcoming month It can reach the level of ₹785-800.