Wipro AnalysisWipro:
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Volume not supporting the upside price movement.
Wait for either side breakout for good RR.
Wipro
Wipro Bottom and Triangle Wipro is one of the large cap IT stocks that has been hammered by the stock market. However, one can see a decent triangle formation and bottom formation going on here. If this formation succeeds, it can be a great accumulation zone for the stock for the medium term. The base of the triangle (marked in the chart) is your stop loss.
WIPRO in Accumulation PhaseKeep this stock in watch list for days to come, can participate if break-out above resistance.
WIPRO 19SEP2022Wipro from past days taking the support of level 400 and jumps back to make a bull run but from the past days it makes the DESCENDING TRIANGLE PATTERN which is a bearish
pattern
SELL
SELLING below the level of 400 can lead it up to 380--350 level on the lower side.
BUY
Buying is gonna be risky from this point but taking support of level 400 can push it to the rejection trendline.
Wipro AnalysisWipro:
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Self-explanatory picture.
If the price breaks days low then there is a problem & it can go further down.
Wipro - Possible Wyckoff accumulation scenarioKey highlights:
⚡️ Consolidating in the weekly demand zone for the last 3 months.
⚡️ Wyckoff accumulation schematic on the daily time frame.
⚡️ The market structure started shifting after the establishment of the low on 15 July. Hence, it is an important low.
⚡️ The logical short-term target is near the 490 zone. If the price manages to push above the range high, expect 490-500 in the coming weeks.
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
Wyckoff accumulation schematic for WiproWipro has respected perfect Wyckoff accumulation schematic and ready to breakout the accumulation zone. As per time cycle analysis this breakout could be very strong. Get ready.
Buy WiproGood Weekly closing
Heavily beaten stock
divergence seen in chart
Good R:R
Very Good fundamental stock
Wipro 1 year Target aprox 2XWipro 1 year Target aprox 2X
Good opportunity to buy
Target 1 780
Target 2 1020
STOPLOSS 380
Wipro swing trading If the 20 SMAs cross the 50 SMAs on the downside, it's a good opportunity to buy Wipro, but don't forget to check the RSI. If the RSI is higher, wait or invest a small amount for tracking.
Why Wipro is best bet for long term I have shared Wipro weekly chart and marked Elliot waves considering wave 1 to start after corona crash.
If you can see the 5 waves got completed in month of Oct, 2021 where high is 739.85.
As per standard Elliot wave principle a correction after wave 5 should get completed in or around where wave 3 and wave 4 is terminated.
This is standard as per book definition of a pull back or a healthy correction.
So as you can see in the chart shared we are trading in the zone where wave 3 and wave 4 got terminated in last cycle.
I have also drawn a blue colour trend-line which is holding the downside for wipro so far.
Looks like soon it will start trading above this trend line and thats the sign of reversal.
Another sign of possible up-move from here is RSI.
RSI already shown a positive or bullish divergence and now the price should start moving upside.
Keep an eye on the stock, so far so good all the Elliot wave principle and RSI is good enough reason to start accumulating this stock in the long term portfolio.
In any case keep the strict SL of 390 on closing basis because if we get any closing below this that will violate the Elliot wave principle that I mentioned above.
Wipro,Elliot wave ,FiboAfter zig zag correction new impulsive wave is started, In new impulsive wave 1 and 2 is completed so from here 3rd wave started and target for 3rd wave is around 496-500
It Index 5th waveLooks like IT index 4th wave may have just ended.
Now big 5th wave can come..
Keep stop loss 30400
Target can be 24000 to 22500..
Risk reward is super.
cmp 29900
WIPRO - DAILY CHART - 18.08.2022 - BAHAVAN CAPITALWIPRO as per daily chart analysis
Stock Above 446 Target 453.
Happy Trading to All...
WIPRO - BUY @ 460 - 465Wait for trend line breakout for reversal
1) first target @ 560 with 20% return
2) Second target @ 620 with 35% return
3) Stop loss @ 390 with 15% loss
Wipro Future Trade (After a pullback)
Analysis for Wipro Future Trade.
Price has reacted to a Demand in higher timeframe and has violated Weekly Supply
There is a Monthly Demand formed.
Wipro : RSI Bullish DivergenceLet's understand the RSI Bullish Divergence before we take it into account.
RSI Bullish Divergence
Like all indicators,Divergence also fails sometimes, Success rate of RSI Bullish Divergence is 40-45% for Trade
RSI Bullish divergence will provide good accuracy in Daily Time Frame . As per my view avoid shorter time frame anything below 60 mins
RSI Bullish divergence is formed in Bearish Market or Bearish Price Structure ,It will hard to find in Bullish Market Trend or Bullish Market Structure
Let's decide whether this Bullish divergence of RSI will work for us or not
RSI Bullish Divergence Appeared on Bearish Price Structure - Looks Positive for Trade
Price has fallen almost high from 613 to low from 390- Looks Positive for Trade
Volume trend has been strong over the past few days - Looks Positive for Trade
Trade Set Up
Stop Loss Should be the recent low which is 390Rs (Lower Low Point)
Entry Point Should be the recent high which in 430 Rs (Lower High Point)
Target 480-490
Happy Trading ! Support Trading Community !
OMG 😱NSE: WIPRO
Hello guys today after seeing the chart i got these things
1. If goes down then target could be taken at 700 This could be taken as a maximum target
2. Can be taken if break the nearest gap shown on the chart
3. The Moving Averages making a crossover shows up a bull signal
4. Time Frame :- 1 Day
Conclusion :-
A frypan bittom pattern which is at the current level i have saw some forecasts show that it could be up and could followed by the market but if it breaks the small gap also i also got that to follow us and like the posts and Comment Below If You want to ask me questions on this on any other idea
Have a Nice Day to you all
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We are not responsible for any profit or loss
Based on Your Own Risk this is only to Show you what's going on
WIPRO; BOTTOM FISHINGWIPRO; fundamentally strong share; good opportunity to do bottom fishing'; otherwise it will be too late; no sl; don't run after penny or momentum stocks; hit like if u agree
TARGETS READY WIPROWipro seems fall and consolidations over on daily chart, it falls very sharply from two three months made a bottom and breaking first resistance above bottom and close above good on Bollinger bands too on daily charts so for swing and positionally on both way it is looking good breaks a major hurdle on Relative strength indicator too.
CAUSE OF LONG
1- Horizontal resistance trendline breakout.
2- Relative strength indicator breakout.
3-Bollinger band breakout.
4- Combination breakout
