Wipro after fall from 734 to 400 level has taken support near the 61 percentile of fibonacci retracement and is consolidating.
This is long term view based on predictive trend chart.
Long for a target of 830 once it closes above 420 on monthly basis
Very small stop loss will be 380 on monthly closing basis.
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...
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...
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....
Wait 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; 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
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.
CMP: 639.80
Target : 713-760
Wipro Ltd is now on critical support as well previous accumulation Zone. Now market retrace...
This is a long term Investment Idea (Buy Only) following signals from this indicator.
Wipro has given a multifold return over the years. It is also known for paying dividends/bonus & has a solid management.
*Never put all your eggs in the same basket! Typically should diversify investments to absorb shocks*
#Wipro #Investments #Dividends #NSE #BSE #LongTerm #GoldenStocks
Already in a very strong uptrend , pullback is completed now;
1. Back to it's old support. ( 645-652 ) levels.
2. Formed a good morning star at support.
3. Took a support at 55 EMA.
Buy price : 660
Stop Loss : 643
Target 730+
A great risk to reward ratio of above 4.
Disclaimer : This analysis/strategy is only for educational purpose and not be considered as any...
EXPLANATION : This is a Daily time frame chart of WIPRO . The stock has been in a uptrend for days and has taken multiple times of trendline support , If give a strong breakdown and broke its trendline support & demand zone with volumes and has retested the same. I am bearish on this stock for the coming days . If support taken from trendline either demand zone...
As can be clearly observed, in the 5 days before and after Earnings Declaration by Wipro, Share price moves at least 10% upside. Last day it was up 3%, which might be the start of this earnings break upside. It will be interesting to observe how the market reacts to TCS earnings declared just 2 days before. Expecting some upside just like trend, Also the price is...
NSE:WIPRO
Observations:
1) On 1 day time frame, we can see that it has been taking support from 50DMA. Which is a good sign that the bottoming is done and down trend is restricted at this time.
Please refer below chart : 1day Time Frame.
2) On 1 hour time frame, 650 level is immediate resistance level and 640 is immediate support level.
Please refer...
![WIPRO: Simple Trade Setup | WIPRO | 08-10-2021 [ INTRADAY]](https://s3.tradingview.com/1/1mjEmpXM_mid.png "Simple Trade Setup | WIPRO | 08-10-2021 [ INTRADAY]")
