Wipro Breakout in Falling Wedge Breakout in Falling Wedge in Wipro on Daily time frame with increase in volume
Trade after complete retest and confirmation
Trade ideas
WIPRO is facing resistance NSE:WIPRO is facing some resistance at its current levels. If it crosses it then 420 can be seen easily. It has bottomed out so made a small position in it.
Wipro Investment Idea Wipro Fromed bullish RSI divergence on the weekly Chart. also, It reversed from the 61.8 % retracement level of the Fibonacci retracement of a previous bullish trend.
one can go long on Wipro with the stop-loss of levels marked with an arrow because it acts as a pivot point in the near term.
it might Give a good move when RSI Crosses the 50 level on the weekly chart.
thank you !!
Swing Trade Idea in WIPRO
Information Technology
IT Services & Consulting
Largecap
With a market cap of ₹2,12,903 cr, stock is ranked 27
Current price is less than the intrinsic value
Stock has been generating better return on equity than bank FD
Stock doesn't offer attractive dividend returns
Good time to consider, as stock is not in overbought zone
Stock not in ASM/GSM lists and not a lot of promoter holding is pledged
Disclaimer:- I am not a SEBI Research analyst so before investment please call to your investment advisor.
Recovery in WIPROAfter a huge retracement of 61% the prices of WIPRO is currently bouncing , it's above 200 EMA .
InvestmentThis is is a very good time to invest in Wipro. RSI(14) is near crucial support and also near to fib golden ratio.
trade at your own riskThis is the chart of the week, Wipro is forming a long scenario, it should move upwards.
WIPROWipro formed Inverted Head & Shoulder Pattern in Weekly time frame. Below 376 goes fall, Above 452 trend reversal possible.
WIPRO LONGLONG WIPRO
Very Good retraccement with RSI divergence
It is good time to accumulate stocsk
WIPRO CHART ANALYSISIf price sustains below the horizontal trendline, we might see the rising breakout trendline being tested and that would make a good opportunity for entering or even averaging. Recent results shows that the business from America has grown. The fall was uncalled for. Long term target - 700+ ; SL - Monthly closing below - 320 or below the rising trendline.
Wipro - Contra tread LongThis is not an investment advice, only for academic purpose, apply proper risk management
After a disappointing result, Wipro spooked 10% on thursday and friday.
At present,
Monthly TF - Last month was TD 9, chikou span will face resistance from candlestick at the region of 340-320
Weekly TF - This week was TD8, next week is likely to be TD9, unless a close above 400.
Daily TF - TD countdown 13.
Weekly RSI is showing multiple positive divergence.
Market has a strong support near 350-320 region.
Therefore, it can be presumed that the market is likely to WIPRO is likely to bottom at around 350 next week.
Tom De mark count 9 and 13 can provide good top and bottom signal.
Recently, HCL tech bottomed on 890 on the week it flashed TD9 signal on weekly basis. From that upmove of 15 % in 3 months.
Carborundum universal bottomed on 660 on the week that flashed TD9 signal on Weekly and TD13 signal on daily TF, upmove around 40% in 4 months, which i missed.
Bank nifty and nifty recently flashed TD9 sell signal on weekly TF
So, my strategy will be to buy @ 350 with portion addition upto 320. After 62% retracement of the previous upmove, it is highly unlikely that WIPRO will move to 263, the next support.
Investment horizon -long term
Wipro on larger time frame Wipro has completed its wave 4 on monthly time frame, whereas some other IT stocks haven't.
•This is a good opportunity for investment as well as swing trading.
•Within 1 year it can give you good returns
Wipro heading towards 320Wipro has corrected 50% from its all time high
And now it has also broken important support zone it is heading towards 320 to 300 support zone
Still Bullish with Wipro -- if conditions metI am sharing wipro chart.
We have seen wipro results for the quarter and it say its not up to the mark.
But chart is saying a different story.
Have a look at the chart I have shared with you.
Despite of so much ups and downs in Nifty and the whole global markets...
Wipro is not ready to give up.
Looks like some kind of accumulation is going on. And RSI is showing some strength.
So far so good...
We can still play with wipro specially if it closed above the trendline I have drawn, which is actually holding it for any movement towards north.
If we get a closing above this trend line we can look an upside movement in. the stock
First target will be 445, as this was the major recent swing.
Above 445 our XABCD pattern will get activated and then we can see a target of 480 in some weeks.
Remember the XABCD pattern will only give you target once we get a strong closing above 445.
Meanwhile we can keep a strict stop loss of 380.
WiproWIPRO (Monthly)
Retesting its breakout level
Longterm View Bullish Intact
Buying Range Started : 300-380
Reversal is expected now in Wipro soon
Accumulate now!!!!!
BUY - WIPRO Investors are very bullish on the IT sector after TCS's positive results, so you can target 5-7% in Wipro if the results are positive ( maximum chance to be positive result in all IT companies).
Wipro About to Break the Trend LineWait for a breakout, restest and go long. Wipro is in downtrend from couple of months. Now an upside move can be tapped.
WIPRO BULLISHWIPRO LTD STOCK is currently trading near its trendline resistance.
If candle breaks it with a good volume you can go long in it.
Targets, SL, Entry price has been given in the chart
Trade using money management.
ONLY FOR EDUCATIONAL PURPOSE
Watch for a Trendline BreakoutWIPRO :
The stock is trading in a trend line.
The stock looks Good Above 415.50.
Wait for the Breakout to Take entry.
The expected targets are 426.50 & 440
WIPRO Available @ major support zone - Breakout of Double BottomThis can be a great position to add for investment as well with very low risk. IT stocks have already faced big downside and in longer term, the downside is limited but upside is huge.
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
