Same 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 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
Target: 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...
wipro chart analysis for intraday and swing trading
The 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
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.
Ideally 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 LTD looks bullish If market breaks the trend line in Day time frame bull run will continue. Lets wait and watch Cheers !
Stock has given closing above Trendline on Daily Time frame after forming Double Bottom. Good above 440 for Friday
We can see Wipro made double top pattern on weekly as well daily. The second confirmation is the 50 Moving average breakdown on daily.
Price - 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...
Forming a triangle patter with previous uptrend, a breakout can give continuation of the pattern.
The ascending triangle is a bullish continuation pattern and is characterized by a rising lower trendline and a flat upper trendline that acts as support. This pattern indicates that buyers are more aggressive than sellers as price continues to make higher lows.
lets see if it breaks down or continue in up trend look good for long trade
please watch the trend line, support, and resistance in WIPRO