Wipro
Wipro Breakout in Falling Wedge Breakout in Falling Wedge in Wipro on Daily time frame with increase in volume
Trade after complete retest and confirmation
WIPRO is facing resistance NSE:WIPRO is facing some resistance at its current levels. If it crosses it then 420 can be seen easily. It has bottomed out so made a small position in it.
Wipro Investment Idea Wipro Fromed bullish RSI divergence on the weekly Chart. also, It reversed from the 61.8 % retracement level of the Fibonacci retracement of a previous bullish trend.
one can go long on Wipro with the stop-loss of levels marked with an arrow because it acts as a pivot point in the near term.
it might Give a good move when RSI Crosses the 50 level on the weekly chart.
thank you !!
InvestmentThis is is a very good time to invest in Wipro. RSI(14) is near crucial support and also near to fib golden ratio.
Wipro RSI convergenceHeavy Convergence observed in Wipro additionally It's taking support from Fib level 0.618 and we can see a kind of cup and handle pattern in 2 hour candle too many bullish signals. Taking a long position and holding for sometime
WIPROWipro formed Inverted Head & Shoulder Pattern in Weekly time frame. Below 376 goes fall, Above 452 trend reversal possible.
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
Federal Bank breakout and friends also buyingBuy with target of 150 175 200
Very strong fundamental and very good results also
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
Wipro on larger time frame Wipro has completed its wave 4 on monthly time frame, whereas some other IT stocks haven't.
•This is a good opportunity for investment as well as swing trading.
•Within 1 year it can give you good returns
Wipro heading towards 320Wipro has corrected 50% from its all time high
And now it has also broken important support zone it is heading towards 320 to 300 support zone
WiproWIPRO (Monthly)
Retesting its breakout level
Longterm View Bullish Intact
Buying Range Started : 300-380
Reversal is expected now in Wipro soon
Accumulate now!!!!!
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.
Cnx IT and it stocks with index analysis for 11 october markets I daily make educational content videos for financial markets
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.
WIPRO GOES LONGWIPRO could go long from this price range. Downside risk is very low while upside potential is very high. CMP is at 200 day MA and crucial Fib Retracement level. For 1-2 months timeframe, we could expect a ₹20 - ₹30 on the upside. If CMP goes below ₹380, exit positions and wait till ₹350.00 to make new entries.
For those who can hold for 6 months to 1 year time, take long and you'll see 30% - 40% returns easily.
WiproAll the IT stocks are trading at discounted prices good time to enter, stop-loss, entry, target, mentioned in the chart
Wipro - H & S - At neck lineWipro formed a Head and Shoulder - At neck line now
There is a small H and S within the right shoulder as well
Move Below neckline 390 would give a break out
Could expect target 380/370 as long as 428 holds
WIPRO - DAILY CHART - 26.09.2022 - BAHAVAN CAPITALWIPRO as per Daily chart analysis stock Above 402 then Target is 425.
With FII Net Selling 5101.30 Crores and DII Net Buying 3532.18 Crores it looks like FII have begin the selling once again and tomorrow could be an important day to see whether market is able to recover by consolidating forming a Reversal Doji candle in Nifty and Bank Nifty or continue to fall. Lets see whether the market if at falls can take reversal at jun 17th 2022 Nifty level of 15183.
I have Bought Vedanta and will continue to buy more stocks during this correction.
Happy Profitable Trading to all..
Happy Navaratri wishes to All...
WIPRO - POSSIBLE TO REVERSE FROM HERE ?NSE:WIPRO
Wipro trading at fibonocci support .382 and possible to break the trend this time
Buy with stoploss 370
Target - 405, 423, 450
Wipro near a break down (26/09/22).Wipro has been consolidating in a range and is forming a double bottom pattern on the weekly time frame.
The stock has closed below its 200 ema (weekly chart).
The whole IT sector has been in a consolidation phase and is near its recent low.
On the daily time frame, stock has given a negative candle and retested its levels of 400.
Confirmation points.
1. Closed below 200 ema (on weekly time frame)
2. Started trading below 400 level.
3. Head and shoulder pattern on daily time frame.
If the stock closes below 392 level on hourly time frame, a trade can be initiated.
Target :- 386.5, 374
Wait for the stock to close below the levels. A price action is must to enter the trade.
