WIOA trade ideas
WIPROWipro has shown good strength and featured in the list of the strong stocks in the past 10 trading sessions, If we look at the setup, the stock is trading perfectly within a channel. Recently, it took support at the lower end of the rising channel and has crossed its key hurdles, The upper of the rising channel is around the 850 levels. In term of wave counts, wave (iv) correction looks like completed, and now wave (v) can be possibly unfold, If we assume that wave (v) can be equal to wave (i), then it can show the level of 815 upcoming, On the way down 20DMA and 50DEMA can provide immediate good support which are pegged near 648 and major support is recent swing low at 598.
All the key levels are mentioned on chart
Parallel channel structure
Wave structure could be like this
macd in weekly uptick
macd in daily positive and uptick and above zeroline
rsi in daily breakout and above 60 with uptick
adx dmi positive
bollinger band action
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
I am not responsible for your profits and losses
Buy Today Sell Tomorrow: WIPRO for more than 5%HAVE A LOOK AT THE PAST PERFORMANCE ON THIS PAGE!
- Take BTST trades at 3:25 pm everyday
- Book profits within first 30 minutes of the market opening
- Try to exit taking 3-5% profit of each trade
- SL can be taken when 5/15 min candle close below 44EMA
Wipro Target 66%Wipro weekly candle closes above 20 ma. Trend is in Bullish continuation. It has also b given breakout above the trend line. So entry is confirmed.
One can enter at Cmp for 1st target of 66% which can be achieved in 4 to 6 months.
One can also enter here for investment andhold it forever. (Huge potential stock)
Stoploss is mentioned in the chart.
WIPRO - Ready for take off ?WIPRO today has closed on 646.90. entry was 647 which should be good as it has sustained a support above the triangle, would recommend to wait for one more candle for up move, if it closes above 647 tomorrow it should uptrend later.
looks like a doji candle creation to me hence its better to wait for one more candle before entering.