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WIPRO trade ideas

Triangle Breakout seen in India's 4th largest IT Services StockHello everyone, i hope you all will be doing good in your trading and your life as well, i have brought a large cap IT sector stock which has given Triangle Pattern breakout, and price is still sustaining above the breakout area, in yesterday's session we have seen neckline breakout, and today's price has come to retest the breakout.. A high probability trade is waiting from here, all levels i have given on chart like entry exit and targets. IT sector moment is supporting now a day's. Specially Midcap IT is on fire, i will try to bring some midcap stocks as well, but for now focus on nifty 50 stock. Technically stock is looking good on chart, MACD is also giving bullish crossover. RSI also giving bullish crossover, price is above 200-DEMA. (I have not placed any indicator on chart, but i have done my analysis before to publishing the idea.) Stock is good to go long for short term to long term as well, we all know how wipro helped their investor to make them Billionaires, who invested in early 80's. So the stock is same, still it has charm to give returns like it does earlier, but you have to be patience in it. Market Cap ₹ 2,56,398 Cr. Current Price ₹ 490 High / Low ₹ 546 / 375 Stock P/E 23.2 Book Value ₹ 143 Dividend Yield 0.20 % ROCE 17.2 % ROE 14.5 % Face Value ₹ 2.00 Industry PE 29.7 Debt ₹ 16,465 Cr. EPS ₹ 21.1 Promoter holding 72.9 % Intrinsic Value ₹ 243 Pledged percentage 0.00 % EVEBITDA 13.6 Change in Prom Hold -0.01 % Profit Var 5Yrs 4.17 % Sales growth 5Years 8.75 % Return over 5years 11.6 % Debt to equity 0.22 Net profit ₹ 11,112 Cr. ROE 5Yr 17.3 % Profit growth -2.69 % Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:WIPROLong
by TraderRahulPal
5
INVESTMENT PICK - WIPRO - TREND REVERSAL LONG ENTRIESSymbol - WIPRO Wipro Ltd is a global Information technology, consulting and business process services (BPS) company. It is the 4th largest Indian player in the global IT services industry behind TCS, Infosys and HCL Technologies. Wipro was in consolidation & accumulation phase from July 2022 to December 23. After that it broke out of this consolidation zone with good buying volumes & went till 550. Now it is retracing back to breakout zone which is 450. Wipro is a company with good fundamentals so it can be considered for medium to long term investment. Wipro CMP - 452 It can be accumulated at current level for long term Investment perspective. More position can be added at 410 - 415 levels. Stoploss can be 350 or below 350. Targets can be 545, 600 & 720 which represents 21%, 35% & 58% upside from current level respectively. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my investment position. You can track it for educational purposes. Thanks!
NSE:WIPROLong
by akshit_official
4
WIPRO's Bull Run: A Favorable Risk to Reward OpportunityIn my previous post, I emphasized that the broader IT Index has the potential to outperform the market as it enters the minor 3rd wave of the major 5th wave. Among the various stocks in the indices, WIPRO appears to have a more favorable technical setup, which could result in a significant gain of approximately 40%-50% over the next 6-8 months. The decision to choose WIPRO is based on several parameters: 1. Wave Analysis - WIPRO has recently entered the 3rd wave. 2. Price action -The previous two-year consolidation was successfully retested 3. There are fewer upward resistance points (only two main supply and resistance zones). 4. The risk-reward ratio is 1:3.3, which is considered very healthy. All the necessary information for entry, stop loss, target, and wave count can be found on the chart. We will closely monitor the stock movement and provide updates accordingly. However, it is important to remain cautious of the upcoming US election, as the IT industry is more influenced by and dependent on the US economy than the Indian economy. Disclaimer: Please note that the information presented in this analysis is intended for educational purposes only. It is highly recommended to seek advice from a financial advisor before making any investment decisions. I cannot be held accountable for any financial losses that may arise
NSE:WIPROLong
by harshit22
1
Bullish Cup and Handle Pattern: Wipro Heading Towards 545Details: Asset: Wipro Limited (WIPRO) Pattern: Cup and Handle Breakout Level: Above handle resistance (specific level not mentioned, assuming current resistance) Potential Target: 545 Stop Loss: Below breakout level or as per risk tolerance Timeframe: Short to medium-term Rationale: Wipro Limited (WIPRO) is forming a cup and handle pattern, which is a bullish continuation pattern. A breakout from the handle could indicate the potential for a significant upward move towards the target of 545. Market Analysis: Technical Pattern: The cup and handle pattern is a bullish formation that typically signals further upside. Breaking out from the handle suggests a resumption of the prior uptrend. Market Sentiment: Positive market sentiment or company-specific catalysts may be supporting the anticipated breakout in WIPRO. Price Target: The target for WIPRO is set at 545, based on the cup and handle pattern breakout. Risk Management: Implementing a stop loss strategy below the breakout level (handle resistance) is crucial to manage risk in case of unexpected price reversals. Timeframe: The projected move towards 545 is based on a short to medium-term outlook, but actual timing may vary based on market conditions. Risk-Reward Ratio: Consider individual risk tolerance and adjust position size accordingly to maintain a favorable risk-reward ratio. As with any investment opportunity, conduct thorough analysis and consider factors such as market trends, company fundamentals, and risk management strategies before making trading decisions.
NSE:WIPROLong
by CyborgTradingHub