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...
One cad add Wipro for a target of 600, it came out of range after 1.5 years of consolidation, given the breakout with increase in volume, trading above all the EMAs, bounced from 61.8 % fib level, Sector support.
Time frame- 4 to 6 months
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➡️adding since September with an avg price around 410
➡️lowest PE among peers
➡️highest ever sales with large deal wins
➡️key trading area offering strong support
Wipro is trading at 434 right now.
On the daily timeframe, it is trading above the 20 and 50 EMAs with rising volume support.
Levels of immediate support are 425, 420, and 410, respectively.
Upward movement is anticipated if these support levels are maintained.
Levels of resistance are 444–460 and 470.
This is my personal view. please study and do your own...
Wipro R H S pattern on weekly chart.
multiple times support on trend line.
target 535 according pattern.
RSI crossing over RSI based EMA.
no buy or sell recomendation.
idea for educational.
NSE:WIPRO
cmp is 462
getting ready for the upmove, but i will wait & watch
i expect one more dip towards 400 and then the upmove should start
The objective of this analysis is knowledge sharing and education. There isn't any buy or sell advise in this article. Every stock is held for a short to medium amount of time and is positional.
It is expected of each...
1. The stock halted its downtrend, finding support and consolidating at the golden ratio of 61.8%.
2. Following the consolidation, there was a significant volume breakout on the weekly chart.
3. This breakout aligns with the characteristics of an ascending right-angle triangle pattern.
4. Notably, the stock rebounded from the trendline support, previously a...
