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WIPRO LTD.

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WIPRO trade ideas

Why Wipro is best bet for long term I have shared Wipro weekly chart and marked Elliot waves considering wave 1 to start after corona crash. If you can see the 5 waves got completed in month of Oct, 2021 where high is 739.85. As per standard Elliot wave principle a correction after wave 5 should get completed in or around where wave 3 and wave 4 is terminated. This is standard as per book definition of a pull back or a healthy correction. So as you can see in the chart shared we are trading in the zone where wave 3 and wave 4 got terminated in last cycle. I have also drawn a blue colour trend-line which is holding the downside for wipro so far. Looks like soon it will start trading above this trend line and thats the sign of reversal. Another sign of possible up-move from here is RSI. RSI already shown a positive or bullish divergence and now the price should start moving upside. Keep an eye on the stock, so far so good all the Elliot wave principle and RSI is good enough reason to start accumulating this stock in the long term portfolio. In any case keep the strict SL of 390 on closing basis because if we get any closing below this that will violate the Elliot wave principle that I mentioned above.
NSE:WIPROLong
by LBilgir
How to decide Long Term Investment in WIPROThis is how I decide whether is it the right time to invest or not in this stock 1. Price to Earning (PE) - One of the best indicator to quickly decide to whether we need to go in further analysis or not. Any Nifty50 stock if you get the PE average near 15 to 20 would be the ideal time to invest. Currently, PE has fallen from 32 (between Sep-21 to Dec-21) to 20. Would still wait and watch how it performs in next week. 2. AWAP - This is an excellent tool to know what is the current value of stock with respect to a reference Low in history. If you plot AWAP at low of COVID-19 in March-20 and low of 2008 Market crash you can say that best time to invest would be between 428 and 263. The highlighted box would be my target zone for investment in upcoming days. 3. Support and Resistance - If you observe carefully WIPRO is having its major support and resistance around the square of odd number series i.e. 1^2, 3^2, 5^2, 7^2, 9^2.... and so on. With this important observation my target would be to invest 40% around 19^2 support and further 60% around 17^2 support (if it breaks the low of 19^2 support, if not then 60% around 21^2).
NSE:WIPROLong
by ksingh159
2
Good positional bet after 45% CorrectionWIPRO has given a breakout of the falling channel pattern and closed above it. One can buy above 445 level for positional gains. Short term targets can be 475 and 488. Mid term target can be 525. Disclaimer: This idea is for educational purpose and kindly buy as per your risk management. I always encourage partial booking 1-2% profits and use a strict trailing stop loss. Idea is positional and only carry position on day closing basis. Learn & earn, Dr . Tanya Kumar
NSE:WIPROLong
by tanya151181
2
WIPRO Ltd.Company:- WIPRO Ltd. Sector:- IT Today:- 28/07/2022 Buy @ 415 Stop Loss @ 400 Upside Target @ 445, 490 then 530 Technical:- On the daily and weekly chart smart money formed a bullish divergence chart pattern. By the way, I can tell you this is a trend reversal chart pattern. So my dear followers if you are interested you can buy this stock for 6 months' perspective, risk reward ratio is also favorable. Disclaimer:- Dear trader and investor before taking any trade do your own analysis and consult your financial advisor because I'm not a SEBI registered advisor.
NSE:WIPROLong
by Pro_Trader_Club