Wipro monthly chart, Very bearish, Big question mark Wipro monthly chart, looking very bearish
in 7 months saw very unusual growth which was 90%, Some would say that stocks can go up like this 90% in 7 month it's easy, yes operator stocks can increases like this, but of good quality stocks like Wipro index stocks didn't grow 90%, this had never happened before, let's say this time this happened because of covid information technology companies was on boom, but now this also has to be accepted that now there is no covid major impacts, so what now stock is going on towards its real valuations ???
Trade ideas
Long Call to Buy WIPROThe current fall in NIFTY-IT index is leading to fall of a lot of quality shares in Indian stock market. Wipro currently is coming down to an attractive levels of 500!!. The current fall in share prices is expected to make it go at 480-500. Anyone who has taken Wipro should hold untill 480. Also for those who want to add should wait for reversal from 480-490 levels. The targets are attractive for both short and long term investors.
WIPRO - Inverted Cup and Handle PatternWipro looks to have formed a bearish pattern in the form of Inverted Cup and Handle.
The Entry and Target positions are as marked on the chart.
Ensure to take the position once the channel breaks downward.
This is my view and for educational purposes only.
Share your thoughts on this in the comments section and lets chat to understand this better.






















