📈 Wipro 📉
My Findings :-
1. Breakdown of Support Zone 525-530.
2. Close below Nine Month Low.
3. Whole IT Sector is showing Weakness.
Target- 460 and 399
RR- 1: 4
All Important Supports and Resistances are drawn in chart.
All levels are of Spot and on closing basis.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision...
Wipro looks to have formed a bearish pattern in the form of Inverted Cup and Handle.
The Entry and Target positions are as marked on the chart.
Ensure to take the position once the channel breaks downward.
This is my view and for educational purposes only.
Share your thoughts on this in the comments section and lets chat to understand this better.
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.
Trade Setup for 10-01-2022
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...
Today watch out the levels for WIPRO .
wait for the Double confirmation for the Best ebtry and the stoploss
Target Where your greed Ends...Lol
Don't Advice to take the trade on my Levels. Take it on your own risk
I will not be Responsible for any kind of loss & profit
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...
1) On 1hr time frame it has been trading in triangle pattern.
Critical Support is at 656 level.
Please refer below chart : 1hr time frame.
Trade Setup for Date 20-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the...
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.
Here are 5 different Scenarios for Wipro for 19-07-2021 Trade. These levels are for Intraday Trading.
Scenario 1 A little gap up or gap down or flat opening. Entry levels and targets are mentioned in Chart.
Scenario 2 A gap up opening but facing resistance. Entry levels and targets are mentioned in Chart.
Scenario 3 A gap down opening...
Wipro has rallied too much; it needs to correct the price so that when it breaks the support, it may bounce back to the previous levels.
Also, Keep It Mind that
If stock market gurus were true experts, they would buy stock not selling advice. So don't take anyone's word for it; this is just my opinion; do your own analysis.
Wipro has been forming a bearish continuation pattern after sustaining below 200 ma line. This indicates that Wipro is in major downtrend and this must be a small correction or retracement. There’s a possible chance for reversal because there’s 3 reason supporting our statement.
200 MA LINE
FIBONACCI 61.8% level
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.
InvestPro India Team