Closely follow WIPROWipro in a critical condition, lifetime resistance now works as Strong support, watch closely
WIPRO trade ideas
Double bottom ahead !!!The stock about to create double bottom..
Add this stock in your radar !!!
Only for educational purpose only .
Hammer PatternHammer candlesticks typically occur after a price decline. They have a small real body and a long lower shadow.
The hammer candlestick occurs when sellers enter the market during a price decline. By the time of market close, buyers absorb selling pressure and push the market price near the opening price.
The close can be above or below the opening price, although the close should be near the open for the real body of the candlestick to remain small.
The lower shadow should be at least two times the height of the real body.
Hammer candlesticks indicate a potential price reversal to the upside. The price must start moving up following the hammer; this is called confirmation.
Script = Wipro
Time Frame = 1 Day
wiprowait for break down (red area) and 365.4 sell zone.
375.25 buy zone. i m intrested for short. hourly time frame shows trend is down.
WiproWipro Very Clear for Double Bottom for weekly time frame So Wipro buy position for long position
#Wipro Spot #Shortterm10-Apr 2:48 PM
#Wipro Spot #Shortterm
Buy at CMP- 372.8
Stop loss - 367
Target- As par strategy indicates
Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
#NSE #stockstowatch #stockstobuy #swingtrading
Wipro Harmonic PatternA Harmonic pattern is seen on chart of Wipro. We need more confirmation from price action for takin an actual trade.
The pattern above suggests the low for this stock could be around the corner.
regards
Abhay Bhatia
Wipro✅ Price break Strong Multiple time tested level.
✅ Price now going to up for 374-378 Level. This level Also act as a Continuation for his down trend.
✅ Better look for proper Reversal on this level.
✅ We can big downtrend also on Weekly base.
Morning Star
A morning star is a visual pattern made up of a tall black candlestick, a smaller black or white candlestick with a short body and long wicks, and a third tall white candlestick.
The middle candle of the morning star captures a moment of market indecision where the bears begin to give way to bulls. The third candle confirms the reversal and can mark a new uptrend.
Script = Wipro
Time Frame = 1 Day
Wipro on Major trendline support on long term. Watch outWipro on Major trendline support on long term. If it closes below trend line, more pain and if it bounces back got place to accumulate for longer term
intradayboth side potential
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
follow risk management
do your own analysis
do workout
do meditation
start reading book
WIPRO - Rectangle channel breakdown - 9% downside potentialWIPRO has given Rectangle channel breakdown from 377 support levels.
We may see a downside level of 343-345 zone in coming 5 to 15 days.
SL: Daily candle close above 377 level.
Wipro near to the Multi Year Support Zone - TIME to BUYWipro is now nearing to the Multi Year Support Zone which was the Resistance before for years. This would be the Exact time to buy Wipro at this level. Happy Investing
Wipro... weekly chart analysisAfter the high of 739.85 the stock corrected almost 50% with strong support at levels around 370-375.
Double bottom formation with stock price closing near the 40 weekly moving average.
The price crossing the 40 weekly moving average with good volume would be a positive sign.
Important levels to watch: 416 which is the neckline with initial targets of 427 and 450.
Might see some resistance at 450, beyond which 495-500 could be a possibility in the medium term.
Keep a strict stop loss at 5-8%. Also price falling below the support zone of 376 would trigger caution.
Note: Not a buy/sell recommendation. Do consult your investment advisor.
WIPRO analysisWIPRO , the IT giant has consolidated heavily for a long time and has formed a good bottom kind of structure , with weekly candlle showing good buying pressure from lower areas and also sustaining above support of 390 levels , this is looking good for an upmove towards 420-425 levels , with SL of just 2.5% and targets of almost 9% risk to reward ratio is highly in our favour and looks good for a swing trade , Do follow for more trade setups and swing trades
Healthy correction and now coming to strong support at 370Fno Stock with strong fundamentals. Can go long in Future around 365 With SL 330.
Is Wipro ready for breaking the long consolidation phase ?NSE:WIPRO is fundamentally sound script. As of now there are no reversal signs in chart patterns but investors can consider this 385 range as a buying opportunity. I Expect target levels of 425 in upcoming quarter.
WIPRO on RSI DiverganceWipro is consolidating over a couple of months and have slowly build RSI divergence on Weekly basis. expecting something good on short and great in long
410 Price rage to watch
WIPRO TARGET UPDATE 16-2-2023Look fresh in range 400-410 for upside 480 in med term and 550 in long term with SL 375..!!!
WIPRO LTD (Triple Confirmation Strategy)This study is to show the importance of a simple Triple confirmation Strategy in WIPRO that has generated a good return in the past and currently shows the same confirmation.
1. 200 Weekly Moving average – the stock must have tested the 200 Weekly Moving Average.
2. Rate of Change must be above 1
3. RSI must be at or above 50 or marginally lower.
In the Past:
Week starting 5th Aug 2013 with the same confirmation, the stock rallied 56.39% .Week starting 14th March 2017 with the same confirmation, the stock rallied 32.54% .Week starting 20th Aug 2018 with the same confirmation, the stock rallied 43.21% .Week starting 6th July 2020 with the same confirmation, the stock rallied 232.44%
Currently:
Wipro shows the very same 3 confirmations on Weekly chart, it has tested the 200 Weekly Moving Average and taking support beautifully.
-ROC is above 1
-RSI is very near to 50(Exaggerated Divergence Pattern Formed)
So it can be hoped that the stock is going to perform good in the weeks to come .The targets would be 449(Support & Resistance zone) next would be 535. Stop Loss very strictly below 375.
CHART & ANALYSIS
ADARSH DEY
