Wiproanalysis
Wipro India ; Study and forecast Wipro doesn't look good to buy at current level as it continued going down after some short covering .
As we can see wipro is again sending some alarming signal, After few short covering session it broken down the channel then sitting at head Nd shoulder which is yet to be confirmed.
If goes down below 380 in couple of days then it mY retest the strong buy zone between 360-370₹
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Note - This is just an educational idea not any recommendations, Investors are advised to get in touch with their financial advisor before making any investment, YAHOOOO
WIPRO ShortWipro is continuously in downfall and holding the support of level 385.
Now, it created a pattern of " head and shoulder " we may see a good fall if it closes below the bottom of the previous low of the pattern.
The share faced rejection of 50DMA and closed below it again.
Fib Retracement - Putting the Fib from the Corona time low we came to know the level of 0.618 is at 383 and that's where Wipro had taken supports if that breaks we can shorts position.
Wipro Ltd. Sector: Computers - Software: Buy SWING TRADEWipro Ltd. : CMP 400
ABOUT THE COMPANY
Wipro Ltd is a leading India based provider of IT Services, including Business Process Outsourcing (BPO) services, globally. Further, Wipro has other businesses such as IT Products, Consumer Care and Lighting and Infrastructure engineering.
Analysis:
Wait for support level as per analysis, dip to buy best option for long term, Target 2 after breck out target 1 resistance. For Dip analysis and Learn Follow Us.
BUY: 371
TARFET: 422-472
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Wipro is in downtrends!!Check the MACD line, There must be a downtrend in Wipro till 400 or max. 385/380.
trendline below the current level is strong trendline, You can see it is break in the 6th turn.
There should be an opportunity of buying this stock after it took the support of the trendline / Resistance line.
Let's wait and watch...!!
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.
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 !!
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.
Wipro - Close above trendline, taken moving average supportWipro Analysis for leaning purpose.
1. Taking Moving Average Support (MA 44, MA 50, EMA 44, EMA 50)
2. Closing Above Trendline
3. Already taken support from Monthly .618 Level
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!