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...
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
Hello guys, I.T sector looks week to me and yesterday Nasdaq also saw a significant fall so we will be looking to short I.T stocks for a few days, preferably on a pullback.
Wipro has made a double top pattern also known as M pattern by some traders, what it means is that the price faced rejection from a specific level 2nd time and is not wanting to go beyond that...
NSE:WIPRO
Observations:
1) On 1 day time frame, we can see it just closed at 10DMA.
If it trades below 10DMA then we can see some profit booking.
10DMA is placed at 710.91 level.
Major breakout level for upmove is 720 level range.
Please refer below chart : 1 day Time Frame.
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Trade Setup for 10-01-2022
1)...
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...
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...
As we know it sector is bullish and wipro having the inverted head and shoulder patterns a bullish pattern and also sgx nifty is up by 50 points than go long if wipro going up
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
NSE:WIPRO
As per earlier levels it was giving good opportunity to buy any deep above 580 levels and on 02-08-2021 it gave good breakout.
My personal view is bullish so I am only giving upside target.
Do comment your suggestion or doubt.
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
NSE:WIPRO
TODAY, 23-07-2021, WIPRO gave a dip at 584 level, which was our marked level and that dip was buying opportunity.
As mentioned in my last post any dip above 580 will be a buying oppotunity.
Now, what next?
Any dip till 594 or 589 level will be a good buying opportunity. Short term target will be 615.
For Intraday target it will be 607 at max....
NSE:WIPRO
Today WIPRO did U turn from 571 level and hit two target on the buy side.
New entry on the buy side can be only made above 580 levels and any dip above 580 will be another buying opportunity.
Because today if we see in option chain data, a lot of short covering seen at 580 levels as well as 590 and 600 levels. Also NIFTY IT is looking strong.
All...
The stock is creating lower lows on the daily time frame and trading in descending triangle pattern. It it sustains below today's low we may see levels marked on the chart.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
![WIPRO: Simple Trade Setup | WIPRO | 10-01-2022 [ INTRADAY ]](https://s3.tradingview.com/m/m3yzvbtJ_mid.png "Simple Trade Setup | WIPRO | 10-01-2022 [ INTRADAY ]")
![WIPRO: Simple Trade Setup | WIPRO | 28-12-2021 [ INTRADAY ]](https://s3.tradingview.com/6/6E0Nrd4A_mid.png "Simple Trade Setup | WIPRO | 28-12-2021 [ INTRADAY ]")
![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]")
