Trade ideas
WIPRO'S EXTREME DOWNFALL INCOMING Wipro has formed a head and shoulders pattern in the weekly chart and it has broken its neckline with a great volume . Almost half of the region is covered and we might see a downfall of upto the levels of 385 within the next few weeks . Although it has to first break the support of 460 level in order to reach the desired target . The long term trendline is also been broken with the formation of head and shoulders pattern . If the support is not broken then we might see a sideways movement for a particular period of time . NSE:WIPRO
NSE WIPRO (WEEKLY)Price at 3 supports.
Fibonacci
Gann
Horizontal
Next couple of weekly candles will decide direction of price.
Consolidation might happen in 23.60% and 38.20% levels.
Look for Investment opportunities.
Closing candle above 23.60% level will indicate some bullishness.
Although current candle closed below 2/1 line, lets hope it doesn't test 3/1 line very soon.
Wipro Chart Analysis !!📈 Wipro 📉
My Findings :-
1. Breakdown of Support Zone 525-530.
2. Close below Nine Month Low.
3. Whole IT Sector is showing Weakness.
Bias- Short
Target- 460 and 399
SL- 543
RR- 1: 4
All Important Supports and Resistances are drawn in chart.
All levels are of Spot and on closing basis.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
Wipro Looks good for Long at 510NSE:WIPRO
Wipro looks good for the long trade , can be bought and held for the one month for 10% app return . CMP is near the demand zone. SL 475 or as shown in graph.
Disclaimer: This is for training and education purposes only, the author may enter in trade, take your own decision , This is a trading idea, not an trading or Investment advice. Consult your financial advisor before investing.
WIPRO | FALLING WEDGE🔴 Falling wedge pattern is being formed.
🔴When diagonal support and straight line support meets it will become a stronger one.
🔴Price will try to go up from the current support.
🔴If it fails to hold it may go sideways for re-accumulation phase
🔴 DISCLAIMER : This is just for educational purpose. Do your own analysis.🔴






















