Wipro AnalysisWipro:
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Volume not supporting the upside price movement.
Wait for either side breakout for good RR.
Wiprolimited
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
WIPRO ACCUMULATION CHARTS FOR IT LOVERSWipro continusly breaking important and good supports so i made an accumulation chart for wipro for information technology lovers
Simple Trade Setup | WIPRO | 28-12-2021 [ INTRADAY ]NSE:WIPRO
Observations:
1) On 1 day time frame, we can see that it sustain the gap up but closed below 700 level.
Still range of 700-702 is major breakout range.
Please refer below chart : 1 day Time Frame.
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Levels and trade setup remains same as per previous.
Trade Setup for Date: 28-12-2021
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
