Wipro what Chart says ?Wipro 640 has seen good accumulation around 640 suggests it will be moved to 654-659 initially and a breakthrough will be taken to 672.
Trade ideas
WIPRO IS IN TIGHT CONSILADATION (ANALYSIS OF WIPRO)A breakout from a consolidation pattern signals a victory by either buyers or sellers over the other. Standard breakout trading techniques include buying long and covering short when prices break through the resistance level , or selling short and covering long when prices drop below support. More conservative traders look for some confirmation before entering these trades, either through analytical tools or continued price action.
Consolidation Strategies
It is common for a support level to become the new resistance point after a bearish breakout and for a resistance level to form support after a bullish breakout. Sometimes consolidations show triangle or pennant patterns, making it possible to execute continuation strategies.
Before determining how to trade a consolidation, identify how long the pattern has held. There are no appreciable time restraints on a consolidation. Intraday consolidation can last for only a few minutes or hours. If you look for active intraday trading, consult technical analysis software for dynamic information updates. Some consolidation patterns last for days, weeks, or even months or years. These patterns are susceptible to false breakouts, making it important to seek confirmation of prices before looking to capitalize on a trend.
Countertrade and contrarians can still trade on narrowly consolidated stocks, but there is often less room for profit due to the small range.
Wipro | Intraday | Short 15 mins#wipro #INTRADAY
-Can short below 650 if a 15 min candle closes
- Profit booking in IT
- Bearish engulfing candle formed in daily charts
#investments #StockMarketindia #trading #priceaction
Head & Shoulder formationHead & Shoulder pattern formed on daily TF.
Surely we might expect a trend reversal
Be cautious on the fake out.
WIPRO Levels for 27-SEP-21(Intraday) Buy above 678 for 3,7,12+++
Sell below 673 for 3,7,12+++
Can comment or ping me for any query or live updates
All views for Educational purpose, Trade at your own risk
wipro go long if it gives bullish signal.Making a triangle pattern, keep watch. Wipro has given the successful breakout of the triangle pattern.No it can show good rally if it bounces from trend line.
wipro in bullish modeWipro stock halting at resistance area & expected to BO the the area in coming days. Long above 680 for the new high of 700 with SL of 675. Good risk to reward trade. Can trail SL once the stock moving upwards. This is for your educational purpose only.
WIPRORelative Strength is above 0, We have good volume + breaking previous resistance.
If close > 590, then first we can go till 753 then next will be 842 & 930 With Good Support at 610.
WIPRO Intraday Trading Idea looking good to buy if it break previous day high.
WIPRO 700 CE SEP 21
@ 4.90 to 5.10
Stop Loss- 3
TARGET- 7 to 7.50
Long in WiproLong in CMP
SL - previous swing low (665 level)
Target - previous swing high (690 level)
Suitable for swing tarding, you can try in intraday too with lower target and SL
wipro As we know it sector is bullish and wipro having the inverted head and shoulder patterns a bullish pattern and also sgx nifty is up by 50 points than go long if wipro going up
wipro go awaywipro go away from now.......................
Buy wipro above 666 for the strong target of 750 , little bit cooling of the rally making it stronger to upside rally further.
Simple Trade Setup | WIPRO | 20-09-2021 [INTRADAY]NSE:WIPRO
Observations:
1) On 1hr time frame it has been trading in triangle pattern.
Critical Support is at 656 level.
Please refer below chart : 1hr time frame.
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Trade Setup for Date 20-09-2021:
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 respsective level considering how price action works near that level.
Wipro on Daily ChartBuy wipro around 660-665 for the strong tgt of 700+ , little bit cooling of the rally making it stronger to upside rally further.
Following a channel perfectly indicates the support and resistance working efficiently ,good fundamentals , i conclude it as low risk high reward category .
WiproIts in parallel channel since Apr 1999
though stop loss is far now, stay invested for 24-36 months to have handsome return
Long in WiproThis scrip is in an uptrend for a long period and it is very linear. One may consider to buy whenever the scrip is trading near to the trendline support. This scrip had been rejected by R3 and it is bouncing back from the R2 which is near to the support. One may consider to long this scrip with SL below the trendline. I guess it may continue its bullish momentum in coming months too. Lower volumes on declining price too confirms the buy signal.
WiproTaken good support at 10 EMA...go long for short term/medium term.
Stoploss - 654
Target - 690 (Previous all time high)
