Wipro has been consolidating since mid October and it is the stocks 2nd attempt to break 360. The previous attempt to break 360, which was was about 5 trading sessions ago, failed because of non-supportive market conditions. But in this attempt Wipro has made a bounce from its 20 DMA yesterday after breaking it intraday...
I had posted a gapfill idea a couple of days ago. That seems to have completed. ~2 points miss which I think is decent fill. Now the stock is ready to move upwards again. Catalysis for the move? The buyback at 400. Positive for Wipro.
Buy here at 345. Target at 352. Stop loss at 340.
WIPRO remained range-bound throughout month and form bullish breakout on September 11. It can be face resistance on 301.60 , if it close above it, momentum will be continue and try to hit our target.
Entry and target level on...
I am anticipating this move on the upside, risk should be half of the normal risk you take per trade.
Please do your own research before trading or investing.
I am not a SEBI registered advisor so consult your financial advisor and take appropriate decision
BTST IN WIPRO FUT
!!please note trade with caution!!
!!manage your risk!!
!!please adjust for future rates!!
!!intra-day ideas series everday at between 9:30 to 10:30!!
POSITIONAL TRADE IN WIPRO !!(DEC FUT)!!
-STRONG TRENDLINE AND PRICE LEVEL SUPPORT
-ITS A CONTRA TRADE BUILDING POSITIONAL LONGS
-PLEASE TRADE ACCORDING TO RISK MANAGEMENT
TRADE VIEW 3-4 WEEKS
!!SWING TRADE IN WIPRO!!(DEC FUT)
-STOCK IS ALMOST NEAR ITS OVERSOLD ZONE
-THERE WAS A BREACH OF 61.8% RETRACEMENT LEVEL WHICH WAS COVERED
DEC FUT TRADE
WIPRO has been in a downtrend for quite some time now (5 months plus) and there is monthly support on the charts. The price has retraced to 0.618 Fib which is acting as support as of now.
This can be a potential reversal zone for WIPRO.
Current Market Price (CMP)- 237.05.
Confirmation only when WIPRO trades @ 242.2
Stop Loss (SL)- 231
Will Post a view again...