This Stock has taken a good retracement of 61.8% and now it is sustaining at the said level. I am expecting it to come down further to 368-370 range where I am planning to enter if it shows some sign of bullishness on daily timeframe with a supportive global markets scenario. I would have SL for this trade @357 and expected targets would be 411..445..479..500..
Wipro: 470
Strong breakout after 553 Days (1.5 Years) with rising volume
T1: 532
T2: 613
T3: 740
SL: Stop-Loss for Safe players should be 402 on Weekly Closing Basis.. Risky Players can place stop loss below previous Swing low 380
Wipro's stock has exhibited a consolidation phase over the past 19 months, primarily fluctuating within the range of 316 to 412. However, a notable breakout occurred on December 6th when the stock surpassed the level of 412. Subsequently, the stock price advanced and approached a significant resistance level at 460.
Today, the stock experienced another breakout...
WIPRO has given a clear breakout on the weekly chart. The stock has a possible upside of 515, 565, and 615. Also, strong volume buildup can be seen from the last 4-5 weeks. The stop loss can be placed at the 427 level (Weekly Closing basis).
#WIPRO.
Disclaimer: I am not a SEBI registered analyst. All the stocks are for educational purposes. Investors must consult...
Wipro forming a diametric patter. Currently it has completed wave d and now we are in wave e of diametric pattern.
Generally in a diametric pattern Wave e = Wave c in terms of time and price.
Wave e= Wave c comes @ 550-555 levels
261.8% retracement level = 550-555 level.
So, Target = 550-555
Stop loss- Wave d low- 445-446.
Hello friends, As you can see on this provided chart that price was trading in a descending channel with lower highs and lower lows but from the last two swing lows it rescued from previous swing lows and formed higher lows and trying to change the trend and now it gives a breakout of channel resistance and formed a higher high with this breakout so we can hope it...
Wipro is at cloud support on monthly charts & this could be taken as a great support for a big move. Can keel stop loss near 388 levels for target of 470 -540 & further new highs in long term.
Considering the Monthly time frame, Wipro is in its support area.
An ABCD chart is presented here
I am not sure the price action will follow this..Let's see the moves
Note: For study purpose only
Fib - 38.2% from a higher zone is strength.
Candlestick- a stack of green candles one after the other is telling me bulls have taken charge,
MA- the golden crossover happened long back on the weekly charts.
Volume- the rally is supported by volume is again strength.
Conclusion- I think IT will definitely be the flavor for many months ahead .And this stock is one...
narrow range in weekly chart
last year pivot range 497 is the first target.
this month resistant R1 514 is the 2nd target.
this month pivot 435 is first support.
this month S1 390 is the 2nd support.
now it is consolidating mode.
It is just a view, please trade at your own risk. I'm not SEBI registered adviser.
In weekly chart we can see after double top price was fall. And whole 2023 reate a strong support at 441.70.
Very Strong Support - 441.70
Now 464 resistance level is breaking. If we see this week creating a red candle but volume is good and as expected price will go higher and touch 500 within couple of month.
It Creating cup and handle pattern.
If we see very...
Prices have broken out of its medium term consolidation phase where it was been capped below 420-450 zone.
The MACD has given a bullish signal by going above trigger line.
Monthly RSI has also bounced from Oversold level.
Long Term Uptrend is expected to resume, wherein initially we can expect a test of previous all time high of 740.
Bullish outlook...
