Get started
Wipro Limited Sponsored ADRWipro Limited Sponsored ADRWipro Limited Sponsored ADR

Wipro Limited Sponsored ADR

No trades
See on Supercharts
Overview Financials News
Ideas
Discussions Forecast Seasonals Bonds

WIOA trade ideas

WIPRO's Bull Run: A Favorable Risk to Reward OpportunityIn my previous post, I emphasized that the broader IT Index has the potential to outperform the market as it enters the minor 3rd wave of the major 5th wave. Among the various stocks in the indices, WIPRO appears to have a more favorable technical setup, which could result in a significant gain of approximately 40%-50% over the next 6-8 months. The decision to choose WIPRO is based on several parameters: 1. Wave Analysis - WIPRO has recently entered the 3rd wave. 2. Price action -The previous two-year consolidation was successfully retested 3. There are fewer upward resistance points (only two main supply and resistance zones). 4. The risk-reward ratio is 1:3.3, which is considered very healthy. All the necessary information for entry, stop loss, target, and wave count can be found on the chart. We will closely monitor the stock movement and provide updates accordingly. However, it is important to remain cautious of the upcoming US election, as the IT industry is more influenced by and dependent on the US economy than the Indian economy. Disclaimer: Please note that the information presented in this analysis is intended for educational purposes only. It is highly recommended to seek advice from a financial advisor before making any investment decisions. I cannot be held accountable for any financial losses that may arise
NSE:WIPROLong
by harshit22
1
Bullish Cup and Handle Pattern: Wipro Heading Towards 545Details: Asset: Wipro Limited (WIPRO) Pattern: Cup and Handle Breakout Level: Above handle resistance (specific level not mentioned, assuming current resistance) Potential Target: 545 Stop Loss: Below breakout level or as per risk tolerance Timeframe: Short to medium-term Rationale: Wipro Limited (WIPRO) is forming a cup and handle pattern, which is a bullish continuation pattern. A breakout from the handle could indicate the potential for a significant upward move towards the target of 545. Market Analysis: Technical Pattern: The cup and handle pattern is a bullish formation that typically signals further upside. Breaking out from the handle suggests a resumption of the prior uptrend. Market Sentiment: Positive market sentiment or company-specific catalysts may be supporting the anticipated breakout in WIPRO. Price Target: The target for WIPRO is set at 545, based on the cup and handle pattern breakout. Risk Management: Implementing a stop loss strategy below the breakout level (handle resistance) is crucial to manage risk in case of unexpected price reversals. Timeframe: The projected move towards 545 is based on a short to medium-term outlook, but actual timing may vary based on market conditions. Risk-Reward Ratio: Consider individual risk tolerance and adjust position size accordingly to maintain a favorable risk-reward ratio. As with any investment opportunity, conduct thorough analysis and consider factors such as market trends, company fundamentals, and risk management strategies before making trading decisions.
NSE:WIPROLong
by CyborgTradingHub