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Wiproanalysis

Wipro building the buy momentum📈 Weekly Stock Picks: NSE:WIPRO - Week Starting 4th September, 2023 📈 💡 Rationale for Selection: 📊 Technical Analysis: Parabolic SAR: Currently showing a sell signal, but the stock has rebounded. 📉➡️📈 Fibonacci Levels: Bounced back from near the 0.618 levels and surpassed the 0.5 levels. Indicates a trend reversal. 🔄 MACD: Expected bottom-up crossover; MACD line (1.3) expected to cross Signal line (2.32) confirming a bullish bias. 📈 Stochastics & RSI: K=23.18, D=9.03, showing the stock has reached oversold territory and is in a position to bounce back. 📈 Percentage R and Fisher 9: Indicate an uptrend is likely in the next 1-2 trading sessions. 📈 📰 Market Indicators: A surge in IT stocks recently. 📈 Mutual funds are showing increasing interest in IT stocks, expecting a boom. 🤝 🎯 Trade Parameters: 🟢 Entry Price: ₹416.25 (0.382 Fibonacci Levels) 🎯 Target Price: ₹422.20 🔴 Stop Loss: ₹41.75 #WiproLimited #StockPick #TechnicalAnalysis #Fibonacci #MACD #Stochastics #RSI #MutualFunds #ITBoom #WeeklyStockPicks #InvestWisely 📋 Disclaimers and Disclosures: Risk: Investing in stocks is subject to market risk. Please consult your financial advisor before making any investment decisions. The information provided is only for the education purpose and should not be considered as an investment advice or as stock recommendation. You are requested to take due diligence on your own accord and consult financial advisor, research analyst or a broker before acting on any information on it. We do not confirm any validity or correctness of the information and might change our viewpoint on the stock anytime, as per our discretion and research. Disclosure: This analysis is purely based on technical indicators and market trends as of 1st September 2023. Past performance is not indicative of future results. Conflicts of Interest: We may or may not have any vested interest in Wipro Limited as of the date of this report.
NSE:WIPROLong
by finogent
3
Technical Analysis: Wipro's Potential Breakout Hello traders! Today, we'll dive into an exciting technical analysis of Wipro, a prominent IT company and a part of the Nifty 50. I'll walk you through some essential concepts and terms while dissecting the current market situation. Please note that this analysis is for educational purposes only, and I am not a SEBI registered analyst. 📊 Key Details 📈 Wipro has been in a downtrend since October 2021 until March 2023. However, things seem to be changing now. Starting from December 2022, Wipro has formed an inverted head and shoulders pattern, which indicates a potential trend reversal. Today, we see the head and shoulders pattern breaking, but it's too early to confirm the breakout. We need to wait for the market to close, or we can initiate a trade five minutes before the closing bell if the breakout sustains. There is a critical resistance zone for Wipro, ranging from 417 to 413. If Wipro manages to sustain above this level today, it might present a good opportunity for a buy trade. Additionally, analysing the volume chart, we can observe a significant surge in volume over the last three days, adding more weight to the breakout trade setup. 💡 Educational Insights 💡 Before we proceed further, let's briefly explain some important technical terms: 1. Head and Shoulders Pattern : This pattern indicates a trend reversal and consists of three peaks, with the middle peak (the head) being the highest, flanked by two smaller peaks (the shoulders). A breakout above the pattern's neckline signifies a potential upward move. 2. Resistance Zone : It's a price range where a significant number of sellers are present, preventing the price from rising further. 3. Volume Analysis : Volume measures the number of shares or contracts traded during a given period. A surge in volume can validate the strength of a price move. 💬 Like, Comment, and Follow! 💬 If you find this analysis helpful, don't forget to show your support by liking and commenting! I appreciate your observations and feedback, as it keeps me motivated to write consistently. 👉 Follow me on TradingView for more articles and trade setups: in.tradingview.com 👈 🚀 Stay Inspired and Keep Trading! 🚀 Remember, trading can be both thrilling and challenging. Always approach it with discipline and a learning mindset. With the right knowledge and analysis, you can unlock opportunities in the markets! Keep exploring and happy trading! 📊📈🤝
NSE:WIPROLong
by AfnanTAjuddin
Wipro bullish reversal patternWipro on 1H time frame Respected Support ✅ Retest ✅ Pattern on 1H : Bullish Harami completed (2 candles) 0.10 points away from completing bullish pattern 'Three inside up' (3 candles) ENTRY : At CMP Target: 387 - 390 (short term) Disclaimer: I'm not a registered financial advisor. All information found here is for educational purposes only and should not be construed as personal investment advice. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this published idea, expressed or implied herein, are committed at your own risk, financial or otherwise.
NSE:WIPROLong
by Deepak_Dahiya
2
Wipro Smart Buy Wipro In the weekly time frame is on last week's brake flowing wage pattern. this week it was breaking it with the ( High Volume +15.50 ) this is a very positive sign for Entry on the Wipro . . CONDITION ONE - Price will hit 443price after that the next target is 495price is the 2nd Target If the buyers are taking more interest in it Or Wipro's more positive News is also helping to push the price to the Next level AND upcoming next week's price will take a Headly retest 392price level zone after that it will More volume bullish and hit August high. CONDITION TWO - Price will go up for some time and after that, all buyers enter the market after that seller volume is coming and trap all the buyers who already enter the market seller can hit all the buyers stop loss, and push the price down. So, it is a good time to Enter the Wipro But this is up to you what type of trader and Investor you are ACCORDING TO ME - I will take the position you see on the Chart and I also give you my SL and TP
NSE:WIPROLong
by Mohit-Soni
WIPRO End of Fall ??!!Chart patterns insist me to go with above titled opinion REASONS 1. In Monthly timeframe , WIPRO has been trading inside Ascending channel taking support and resistance (shown below) 2. Middle yellow trendline- Resistance turned Support looks favourable for the bounce. 3. Entry(safe) can be made after a good voluminous Breakout out of the white slanting trendline. 4. SL can the low of the Breakout candle. As the stock has fell more than 50% , we can even wait for WEEKLY BREAKOUT and then enter upon retracement. Will update as it moves!!! Let's wait & watch , how it moves!!!! NOTE- Just sharing my view...not a tip nor advice!!!
NSE:WIPRO
by mmjimm
2
WIPRO analysisWIPRO , the IT giant has consolidated heavily for a long time and has formed a good bottom kind of structure , with weekly candlle showing good buying pressure from lower areas and also sustaining above support of 390 levels , this is looking good for an upmove towards 420-425 levels , with SL of just 2.5% and targets of almost 9% risk to reward ratio is highly in our favour and looks good for a swing trade , Do follow for more trade setups and swing trades
NSE:WIPROLong
by sniper1290
WIPRO LTD (Triple Confirmation Strategy)This study is to show the importance of a simple Triple confirmation Strategy in WIPRO that has generated a good return in the past and currently shows the same confirmation. 1. 200 Weekly Moving average – the stock must have tested the 200 Weekly Moving Average. 2. Rate of Change must be above 1 3. RSI must be at or above 50 or marginally lower. In the Past: Week starting 5th Aug 2013 with the same confirmation, the stock rallied 56.39% .Week starting 14th March 2017 with the same confirmation, the stock rallied 32.54% .Week starting 20th Aug 2018 with the same confirmation, the stock rallied 43.21% .Week starting 6th July 2020 with the same confirmation, the stock rallied 232.44% Currently: Wipro shows the very same 3 confirmations on Weekly chart, it has tested the 200 Weekly Moving Average and taking support beautifully. -ROC is above 1 -RSI is very near to 50(Exaggerated Divergence Pattern Formed) So it can be hoped that the stock is going to perform good in the weeks to come .The targets would be 449(Support & Resistance zone) next would be 535. Stop Loss very strictly below 375. CHART & ANALYSIS ADARSH DEY
NSE:WIPROLong
by AdarshDey