WIPRO Trend AnalysisWipro has noticed a drop since hitting its 52W high for the last few days but despite all that, it again took support from the Yellow trend line since March 2021.
Based on Fib levels, it shows that there was a pullback until 650 levels and there is a chance a bullish movement follows.
In case it breaches its support line, the next support is 620 levels below which it most likely won't go.
Please consult your financial advisor before making any decisions.
WIOA trade ideas
Swing SetupEXPLANATION : This is a Daily time frame chart of WIPRO . The stock has been in a uptrend for days and has taken multiple times of trendline support , If give a strong breakdown and broke its trendline support & demand zone with volumes and has retested the same. I am bearish on this stock for the coming days . If support taken from trendline either demand zone its has formation of higher highs and higher lows , then I am bullish on WIPRO for the coming days .
If you like the analysis give a Like // Follow for more updates , let me know in comments below :)
Pivott Boss ToolHello FAM ,
Introduction to the Script:
This script is purely formulated according to the concepts of the Pivot Boss Book written by Mr.Frank Ochoa! This tool will help you simply the concepts which are given in the book and also will you trade based on price levels which are formulated according to Pivot Boss Concepts.
[POSITIONAL] WIPRO LONG BET risk: Reward ratio is 1: 2
Rest as per Charts
********
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
=======
I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
********
Is Wipro’s consolidation completed ?Is Wipro’s consolidation completed ?
Reasons/Traits :
• Gartley Bullish Harmonic Pattern formation is seen
• Todays close is exactly at 0.5 Fib retracement level of last swing high and also taking a support of current up trend
• Price took support of 20 EMA today
• Stock is still bullish as Bulls are in control as per indicators
What can happen next :
Scenario 1 : Stock uptrend to continue and reach 665/675/690/710
Scenario 2 : Downtrend post break down of 0.5 Fib level (654) to reach 640/620/600/580 levels
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
WIPRO : RESULTS DAY PATTERN IS OBSERVED. WILL IT RISE?A support trendline has been forming on the price chart of Wipro since the 1st quarter results in April 2021.
A similar spike in volume and price was observed around the result date in the 2nd quarter results also.
So, expecting this as a pattern the institution buyers are following, we can risk a mere 2% as a stoploss and take the long trade.
Long when the price bounces off the trendline and trail your profits.
Stoploss below the green zone mentioned on the chart.
Wipro For Swing Trade ( Buy/Sell) AnalysisWipro given good Breakout after good Consolidation at a support level, The Question is will it sustain above 670 levels if the price sustains above 670 levels we will enter into the trade by keeping 648 as Stoploss (If candle closes below 648 and it's low breaks) & 730 As TGT.
*Always Enter With good confirmation & Maintain proper Risk Reward.
********** Educational/information purpose only **********
>> Visit My Ideas Page for Daily Stock Analysis, Follow for Live Updates. <<
NSE:WIPRO LongNSE:WIPRO
#Wipro trading @ Resistance zone and breakout will give positive momentum
Above candle closure and be traded options too.
Have a Happy trading.
Levels Perfectly captured & shared for FREE Everyday !!
If you like the analysis, Hit like button and share it with your friends to extend your Support.
Long On WIPROLong on WIPRO.
More info. on chart.
WIPRO has taken multiple times of support at 655-660 levels, and a breakdown at this level.
This support turned into resistance and breakout with a volume spike and also a trend breakout happened at 665 level.
Once 665 or 675 levels are sustained then, one can expect 689.4, 699.15,718.6 as Targets with 668.4/675.2 as Entry-1 and 662.7 as Stop loss.