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WIPRO LTD.

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WIPRO trade ideas

[Basket] Wipro Buy IdeaNote - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all. ======= I use shorthands for my trades. "Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.) "Intraday" -means You must close this position at any cost by the end of the day. "Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. ======= I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share. ======= Like - Always follow a stop loss. In the case of Intraday trades, it is mostly the "Day's High". In the case of Positional trades, it is mostly the previous swings. I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives. =======
NSE:WIPROLong
by Amit_Ghosh
Wipro Inverted Head and Shoulder Breakout (Daily)Wipro Technical Analysis - Potential Inverted Head and Shoulder Breakout (Daily) Pattern Observation: The daily chart of Wipro (Ticker: WIPRO) shows the formation of an inverted head and shoulders pattern. This pattern suggests a potential bullish reversal from the existing downtrend. Key Points: Inverted Head and Shoulders Breakout: 1. An inverted head and shoulders pattern has formed on the daily chart. 2. This pattern includes a left shoulder, head, and right shoulder. 3. The neckline, formed by connecting the highs of the shoulders, serves as a resistance-turned-support level. 4. A breakout above the neckline is a significant bullish signal, indicating potential upward movement. Higher Lows: Notably, the recent price action is characterized by creating higher lows. Higher lows can suggest increasing buying interest and a potential shift in sentiment. Fake Breakout and Fresh Buying: A prior resistance level might have seen a fake breakout attempt. The subsequent fresh buying interest near this resistance-turned-support level is indicative of increased demand. Such behavior often signifies strong conviction among buyers. Potential Strategy: Considering the technical aspects observed: 1. Traders and investors could consider a long (buy) position in Wipro, subject to their risk tolerance and investment horizon. 2. An entry could be sought on a pullback toward the neckline support (previous resistance) after the breakout. 3. Use a suitable stop-loss strategy to manage risk, placing it below the neckline to guard against potential false breakouts. Important Considerations: Technical patterns are not foolproof guarantees and should be considered alongside fundamental analysis and broader market trends. Risk management is crucial. Determine an appropriate position size based on your risk tolerance. Stay updated with company news and market developments that could impact the stock's movement. Remember, individual investment decisions should always be based on a comprehensive understanding of the market, including technical, fundamental, and sentiment analysis, as well as your personal financial situation and risk appetite. I am not a SEBI registered analyst, this analysis is only for educational purpose
NSE:WIPROLong
by AkshathTiwari
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