Wipro - Bullish breakout🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
WIOA trade ideas
WIPRO TARGET Achieved | Trade setup for 26-07-2021NSE:WIPRO
TODAY, 23-07-2021, WIPRO gave a dip at 584 level, which was our marked level and that dip was buying opportunity.
As mentioned in my last post any dip above 580 will be a buying oppotunity.
Now, what next?
Any dip till 594 or 589 level will be a good buying opportunity. Short term target will be 615.
For Intraday target it will be 607 at max. And bonus target can be there if it continues strong bullish trend if it takes support from 607.
All these mentioned level will work as support and resistance on particular day based on how price action are working near that price level.
Do comment, if my ideas are helping you to understand the price action and levels.
Have a happy weekends.
Also do comment, if you have any doubt.
WIPRO TARGET HIT | TRADE SETUP FOR 23-07-2021NSE:WIPRO
Today WIPRO did U turn from 571 level and hit two target on the buy side.
New entry on the buy side can be only made above 580 levels and any dip above 580 will be another buying opportunity.
Because today if we see in option chain data, a lot of short covering seen at 580 levels as well as 590 and 600 levels. Also NIFTY IT is looking strong.
All the levels mentioned above 580 will act as entry point, support as well as resistance, based on how price actions & trend are working on particular trading day near that price levels.
Hope you had a good trading day today and all the best for your upcoming trades.
Do comments if you have any doubts.
WIPRO | Different scenarios | Trade Levels | 19-07-2021NSE:WIPRO
Here are 5 different Scenarios for Wipro for 19-07-2021 Trade. These levels are for Intraday Trading.
Scenario 1 A little gap up or gap down or flat opening. Entry levels and targets are mentioned in Chart.
Scenario 2 A gap up opening but facing resistance. Entry levels and targets are mentioned in Chart.
Scenario 3 A gap down opening but facing resistance and then support. Entry levels and targets are mentioned in Chart.
Scenario 4 A gap down opening but from bottom great support. Entry levels and targets are mentioned in Chart.
Scenario 5 A good gap up opening but facing resistance and then support. Entry levels and targets are mentioned in Chart.
Key points to remember. : Wait for a 15min candle close on the mentioned level to take a trade.
If you already took positional trade for short or long term then as per Fibonacci next target to watch is 615/616.
All the best for trading in next week.
Comment below if my Ideas are helping you to understand the levels.
Also comment your suggestion or doubts.
Less Trading Better Earning .. #WIPRO 500 days - 6 opportunitiesWipro gave six huge opportunities where simple consolidation patterns had formed and price have pulled back slightly.
An entry upon the breakout and exit close to the high could have resulted in massive gains just trading one stock 6 times.
This is proof that trading more stocks is not key to making more money.
Do not trade just to trade out of habit because that will sooner or later cause you grief and losses. Invest in good opportunities, trade with patience and with proper risk reward setup.
“If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money.” - Bill Lipschutz
Late night Technical analysis talk 👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins
✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows
✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges , and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts
✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.
✣ Supply/ Demand: In the supply zone , the prices are higher than the bid price, and in the demand zone , they are lower. The bid price is what a trader is willing to pay for a stock
👑 Important levels - explained well
👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :)
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
Wipro ... The BulldozerSo I have been observing that every stock will have its own story. Thats so true.. Every stock has its own method to madness.
Why I call Wipro a bulldozer is when wipro runs - its kills every Bear in its way.
Whats the hardest part for retail investor - Trailing the Call. I am assuming most people here make money through buying an option, which I firmly believe, is the best way to make money in a trending market. In Sideways market - do nothing ! ( For Option buyers)
Back on Wipro - Initially I started scanning Wipro for patterns, I found nothing.. really nothing.. But after days of watching the chart on various time frames, this pattern came in.
The Topi Top pattern.
So you will see three line Red, Yellow and Green. Post Pandemic, Wipro has been following this channel. The pattern is After making a top of the Topi, it will go sideways to form a large triangle and then next BO till Red line.
Topi mean a Cap. More of a pointy one here. All you have to do is wait. Wait for the triangle to finish and then post a credible BO wait... Usually this happen close to results...
Most important learning - Trailing. Most Retail investor quit after making 2 rupees say bought at 4 and quit at 6. While any profit is good profit, when Wipro runs in this formation, Just hold on to your call. I bought a call yesterday at 4 and today is at 18.. 1600 shares, just do the math. I too exited in 2 Rs Profit.
Anyway, Hedge your trades and keep making profit.
As mister Velez say - Minimize your losses - Your Profits will follow !
*This is for learning and education purpose only, please consult your Market specialist before trading !