Wipro - Long above 436Wipro forming a fallen flag pattern, breaking this give a trend reversal to Wipro.
Wipro
WIPRO - Flag / channel breakout If Wipro can close above the channel , we can see target of 460 - 470 so NSE:WIPRO on, if results are good then target will be on cards very fast.
screenshot provided is on 1D graph.
NSE:WIPRO
WIPRO | RR 1:2+ | Pre-Breakout(Intraday / Swing / Positional) Trade | RR 1:2+ | Type:- Pre - Breakout
Reasons To Trade🤔 :- Stock Is In Overall Uptrend, Above 200DMA, Ready To Break- Channel Pattern (With Good Consolidation).
INTRADAY = Entry :- 428.8 - 430 | Stop Loss :- What Suits You | Target's :- What Suits You
SWING = Entry :- 430 | Stop Loss :- 423.5/422.3 | Target's :- 442
POSITIONAL = Entry :- 430 | Stop Loss :- 416 | Target's :- 460
-- Look For Healthy Volumes . Or Get Ready To Exit The Trade.
(Risk Must Be Managed.) :- Intraday & Swing = < 2% / Positional = < 5% (Good Risk Per Trade).
Keep Your Eyes On Index Or Any Bad News That Affect The Trade Or Market.
FOLLOW 🤝 | LIKE 👍 | COMMENT ✍
-------------Any Suggestions--------------
WIPRO - SwingStock has been trading in a channel since January, keep an eye in April 1st week.
Move on either side of channel can give a good profit, wait for at least hourly candle close above/below the channel
For intraday, 15 minute candle close can be considered.
P.S. IT companies yearly/Q4 Results will start coming in soon, one way move can be expected around that time
Why Wipro may be headed up to new highsWipro seems to have completed a W-X-Y correction at its recent lows. Note that X wave is a triangle which is clearly evident. The subsequent upmove can be charted out as an 1-2 with waves 3-4-5 still awaited
A lot of the India IT stocks are headed up - see recent posts on Mindtree/TCS
Wipro on 15 min chartWe shared about Wipro on 23rd march when it was trading in tight range near 200 ma.
Our suggestion for shorting Wipro was based on bearish price action pattern.
WIPRO - Good Risk Reward ratioAnticipating a breakout from a Symmetrical Triangle Pattern while it moves along the Parallel Channel.
WIPRO on 15 min chartSame analysis for Wipro again. If we look at the end of the day, we can see bear in control but that trendline support is too strong. Wipro can give reversal signs from support and if open up with gap down, I have put a trend line that can act as future support based on price action. Trade safe.
Wipro on 15 min chartWipro has been forming a bearish continuation pattern after sustaining below 200 ma line. This indicates that Wipro is in major downtrend and this must be a small correction or retracement. There’s a possible chance for reversal because there’s 3 reason supporting our statement.
SUPPLY ZONE
200 MA LINE
FIBONACCI 61.8% level
WIPRO LTD | Bullish Flag FormationTarget: 432, 460
CMP: 410.50
It can be clearly seen in the daily chart that the price has been in a falling channel and has taken a support at the lower end of the channel, this can be confirmed by the presence of a doji candle. Now, the price is headed towards the upper band of the channel(432), if it breaks the level and sustains, then we can expect to see a target of 460.
Wipro Looks WeakThe stock is creating lower lows on the daily time frame and trading in descending triangle pattern. It it sustains below today's low we may see levels marked on the chart.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Beginner's analysis.Hey Traders,
In the chart we can see that the stock is making bearish triangle on the daily TF
Lets wait and see which side it breaks.
Keep an eye.
Guys, Keep supporting and guide me if there's any mistake or to improve anything.
Preparing For BreakoutIdeally one should buy on breakout level of ₹440 for target 480/500 -but i would like to buy at Cmp with stop loss at 400 because on a longer time frame the stock is making heigher high ,well supported with the trend line, here my RISK/REWARD will be of 1:3 -pls do comment, like and Share, if you really like my Analysis :)
WIPRO LONG ! ! !WIPRO LTD looks bullish
If market breaks the trend line in Day time frame bull run will continue.
Lets wait and watch
Cheers !
WIPRO - Trendline BreakoutStock has given closing above Trendline on Daily Time frame after forming Double Bottom. Good above 440 for Friday
Wipro Double Top - Bearish pattern We can see Wipro made double top pattern on weekly as well daily. The second confirmation is the 50 Moving average breakdown on daily.
Stock Analysis of WiproPrice - 410.30 Dt. - 26-02-2021
The stock has made a descending chart pattern on the daily time frame. In the last trading session, the stock took the support of the support line. Stock is ready to break the triangle either in a downward or upward direction. If a stock starts falling in the trading session then it can be an indication that the stock may fall more. RSI is near the oversold zone, so chances are downtrend can be limited.
If you already have stock then keep an eye on the chart to sell if it becomes bearish. It will also be the opportunity to buy more in the dip.
