Buy Idea for WIPROI do not like writing beautiful stories and convincing you to like my idea. I'll just give you the reasons which makes me feel, WIPRO can be a good buy. Use your own analysis for execution.
Reasons to Buy:
1) Price reaching for the previous accumulation level.
2) Fundamental reason for demand as the company will distribute dividends.
3) IT sector has a tendency to rally during Mid and later half of January.
4) There are gaps to fill above.
Entry tips:
1) Consider Lower timeframe confirmations.
2) Time is a important factor, Look for buys before 18th January 2022.
Profits targets:
33% of trade @ the vacuum area.
45% of trade @ Rs 700 or on the ex dividend day
Remaining portion should be exited at new high or Rs 680.
Trade ideas
Wipro double top, short below 711.Hello guys, I.T sector looks week to me and yesterday Nasdaq also saw a significant fall so we will be looking to short I.T stocks for a few days, preferably on a pullback.
Wipro has made a double top pattern also known as M pattern by some traders, what it means is that the price faced rejection from a specific level 2nd time and is not wanting to go beyond that for now, so it's a bearish pattern.
The volume profile also shows interest in short side rather than going long.
The RSI has started to go weak.
9 ema is above the price.
Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding.
Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
Simple Trade Setup | WIPRO | 10-01-2022 [ INTRADAY ]NSE:WIPRO
Observations:
1) On 1 day time frame, we can see it just closed at 10DMA.
If it trades below 10DMA then we can see some profit booking.
10DMA is placed at 710.91 level.
Major breakout level for upmove is 720 level range.
Please refer below chart : 1 day Time Frame.
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Trade Setup for 10-01-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Wipro LTD.Wipro LTD.
I Perfer Shooting After Wipro Post it Result Because History Repeat Itself.........!
Let me Example
See Wipro had seen fall13% from 18 Oct 2021 After Wipro had given nice came back the postion made before 670 levels is massive now price is 711 and seen 725 levels also after result might profit booking will come then I will Short otherwise I will Neutral
This is Educational Purpose
Please Please do your now Reseach...
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WIPROI am very bullish on WIPRO. Looking at the chart Wipro is possibly forming a "CUP AND HANDLE" which is one of a very bullish pattern.
Points to note:
1. Possible "CUP AND HANDLE FORMATION" is forming (which is highly likely).
2. The 720 level acted as a resistance and the candle retested it (in the past 3-4 times it retested too). I expect Wipro to consolidate a little by completing the "Handle" pattern and after it may give a breakout with an initial target place around 780-790 levels.
3. Support and Resistance are shown on the charts (1Hr timeframe will show those levels in more detail).
According to my opinion, WIPRO will be a big game in a few sessions if it continues the "CUP AND HANDLE" pattern.
THE ANALYSIS IS ONLY FOR KNOWLEDGE PURPOSES. PLEASE ACT WISELY BEFORE TAKING ANY DECISION.






















