Wipro (long term pick)
This stock made low of 159.40 on 2nd of March 2020 and made a high of 738.50 on 1st of October 2021, a complete rally of almost 600 points. Since then, it started falling and made low of 352 on 3rd March 2023 which corrected its for 61.8% of Fibonacci levels which is considered as golden reversal for fresh rally in the technical world....
WIPRO - After months of downtrend and consolidation, forming an inverted Head and Shoulder pattern.
Any breakout on this will give good returns - first 440 -490-550 levels.
CNXIT is also on the rise, this should help in gaining some momentum.
Add to watchlist, for further study.
The price structure analysed on multiple parameter for better understanding.
Weekly Chart
✅stock corrected and reinstated to fib 38.20%
✅strong base with rounding bottom
Daily Chart
✅triangle breakout with volume
✅golden crossover confirming strength in stock (50 & 200 ema)
✅price consolidating after the breakout
Index - Nifty IT
After a year of range...
Action Plan - Entry can be made now keeping the gap zone of 465 as stop loss with target as per resistance zones above and risk bearing capacity of the individual. As Nifty IT and Nifty are at respective all time high zones, strong position sizing is recommended. It is also a good time to accumulate for long term investing at current levels.
Note - For...
Script is brekaout in the weekly from the resistance of 528 with good closing . If it sustains above in the range of 528 and crosses 548 then it will reach the long term target of 607.
WIPRO Monthly chart shows 2X possibility in next 2 Years.
Wipro has been following monthly channel since 2003 ... 20 Years & will try to be with in the channel range for next few years.
LTP - 543
SL - 375
Target 1200+
Risk Reward Ratio - 4
Happy Investing.
Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPEECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get...
Wipro looks a like forming a rounding bottom pattern. If it manages to sustain above the 400 mark we can see a good upside and coming 6 months to a year we can see a good upside and maybe touch the 700+ level.
It is just my view, request you please do your own study before any trade.
NSE:WIPRO
cmp 543
WIPRO gave a breakout on weekly chart at 450-460 zone in Dec 2023
made high of 529 and made a small pull back in Jan-Feb
then yesterday broke out above 529 and now heading towards 1st tgt of 615
expecting a pull back at 615 region and then will move on towards 730
The objective of this analysis is knowledge sharing and education. There isn't...
#wipro lately has been giving wild moves and many people including myself are wondering why. I may not know the exact fundamental reason for the move in wipro but as a technical analyst i can share my POV on Wipro technically.
1. Wipro has given a major breakout in the weekly timeframe.
2. After a prolonged period of consolidation in the likes of more than 1...
Wipro looking bullish and it has formed an ascending triangle pattern. Where we can see the target of 550 to 580 range once it breaks the ascending triangle break line.
Disclaimer- Its only for education purpose and not trading recommendation.
1 : Up Trend
2 : Indicators are Positive
3 : close above Pattern Breakout Point
4 : Volume confirmation
5 : Follow The High and Low as per the above table Given
6 : Qty mentioned in terms of 3 lakh value
7 : Target Give as per Low to High and High to Low Swing %.
A Bullish Breakout of Inverted Head and Shoulder pattern is visible on the Daily chart of NSE:WIPRO
The shoulder is exactly at 0.236 fib retracement level. and the target is nearly at 0.50 fib level.
MACD gave Positive crossover on Daily, Weekly and Monthly chart. So, expecting the momentum to continue.
One can create a fresh position in the scrip as per...
Wipro successfully breaks out of its accumulation phase, which lasted from June 2022 to December 2023, and shows a strong retracement to the Fibonacci level of 61.80%. A clear target is now in sight, and the momentum continues.
