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Wipro

Wipro giving a trendline break out.The stock has been following a trend line from August 22 and finally there is a break out of the trend line. Wipro on the daily time frame has closed at 398 level above the 20 EMA. IT sector might give a nice up move as the sector has been under performing. The stock and IT index has gained over 2% on the daily time frame. 3 points confirmation. 1. Trend line break out and closing above it. 2. Closing above 20 ema. 3. High Volume break out of the trendline. Watch the index too for carrying the position as the IT index is near a resistance. If the index crosses and closes above the resistance, the stock can give a nice upside move. Targets :- 404, 415 Stop loss :- 395 (daily 20 EMA) Wait for the stock to cross the round level of 400. Intraday and swing trades can be carried in the stock.
NSE:WIPRO
by TheMamboMomentum
1
SWING TRADE -WIPRO - R:R @ 1:2Potential Opportunity as Swing Trade in NSE:WIPRO If tomorrow price action form with green candle above trendline then day after tomorrow buy at top of the previous day & stoploss below trendline. Risk : Reward - 1:2 ENTRY - 400.00 TARGET 1 - 415.00 TARGET 2 - 425.00 STOP LOSS - 388.00 This is for Educational Purpose only, apply your prudence & consult your adviser before any investing. HAPPY TRADING..... #nse #swingtrade #nifty #wipro #niftyit #nifty50 #priceaction #supportzone #trendline #bullish #riskrewardratio #sma #simplemovingaverage
NSE:WIPROLong
by indostockdash
Why do I think the IT index is going to rally soon?Hi all, hope you guys are doing well. Over the last 2 months, we have seen a great rally in the majority of the indices, except one - The IT index. Read this post to find out why I think IT is going to pump soon! 1. The IT index has been strongly underperforming the benchmark as well as all other sectoral indices for the last few months. I have taken the June lows as a reference because the market started rallying from there onwards. Observe how the IT index is lagging far behind all other indices. 2. In the last few days, the IT index has been strongly improving, suggesting a mean reversion towards the benchmark index - Nifty. Notice the angle of the curve. On the other hand, all other indices seem to be more or less flat. If the market is able to consolidate the gains and maintain the bullish to sideways narrative, the IT index can really perform well in the coming weeks. 3. This is also in line with the structure. If you notice, the index seems to be forming the Wyckoff accumulation schematic in which the "Spring" seems to have been established on 15 July. Currently, the price appears to be bouncing off the range low and may head towards the range high. 4. The market structure has started to shift to the upside. As we can notice, after the formation of the low on 15 July, the price rallied higher creating a higher high. This caused a shift in the market structure. 5. If we get a move above the range high at 31k, it will confirm that the short-term structure has turned bullish and we can expect higher prices, possibly a move towards 34k. 6. All the IT stocks have been forming a similar structure. I am attaching a few charts for reference. 🔹 Wipro: 🔸 Infosys: 🔹 Mphasis: 🔸 Coforge: Thanks for reading. I hope you found this helpful! 😊 Disclaimer : This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk. Happy learning. Cheers! Rajat Kumar Singh (@johntradingwick) Community Manager (India), TradingView
NSE:CNXITLong
by johntradingwick
24
Wipro - Contra tread LongThis is not an investment advice, only for academic purpose, apply proper risk management After a disappointing result, Wipro spooked 10% on thursday and friday. At present, Monthly TF - Last month was TD 9, chikou span will face resistance from candlestick at the region of 340-320 Weekly TF - This week was TD8, next week is likely to be TD9, unless a close above 400. Daily TF - TD countdown 13. Weekly RSI is showing multiple positive divergence. Market has a strong support near 350-320 region. Therefore, it can be presumed that the market is likely to WIPRO is likely to bottom at around 350 next week. Tom De mark count 9 and 13 can provide good top and bottom signal. Recently, HCL tech bottomed on 890 on the week it flashed TD9 signal on weekly basis. From that upmove of 15 % in 3 months. Carborundum universal bottomed on 660 on the week that flashed TD9 signal on Weekly and TD13 signal on daily TF, upmove around 40% in 4 months, which i missed. Bank nifty and nifty recently flashed TD9 sell signal on weekly TF So, my strategy will be to buy @ 350 with portion addition upto 320. After 62% retracement of the previous upmove, it is highly unlikely that WIPRO will move to 263, the next support. Investment horizon -long term
NSE:WIPROLong
by suman6saha
IT INDEX looking for 2XAs predicted last time for IT index to sell at 33850, which was followed by 20% correction in the Index and saved capital there. Now looking at the market scenario, IT stocks looking one of the best bets in the Indian sector 1) Golden pocket zone of 2020 bull run 2) Bounced from the long awaited channel trendline 3) Taking support at previous support zone of 25-26k Disclaimer: Chart, data and levels for study purpose only. I am not a financial advisor. Use your intelligence before investing.
NSE:CNXITLong
by Ashray_G
WIPRO Available @ major support zone - Breakout of Double BottomThis can be a great position to add for investment as well with very low risk. IT stocks have already faced big downside and in longer term, the downside is limited but upside is huge. The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets. Trade setup is explained in image itself. The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
NSE:WIPROLong
by TradewithAditya