Wipro bounced from the trending support line and moving up.
It can go till next resistance and we may book some profit before that.
One may initiate a long position at CMP~475.
SL 472
Target-1 480.02
Target-2 484.16
Risk Reward ratio is also good here.
Wipro is trending inside the channel. Evening star formation and volume indicates the stock is getting weak. Sell wipro below 475 with stop loss 479. Targets are 452 and 440.
Looks like Wipro is gearing up for a blast on upside.
Trading in Ascending triangle but facing resistance at 470 levels.
Buy if you see it closing above 470
Target 500
SL 464 ON CLOSING BASIS.
Wipro formed long lag dozi with 3dema is left is good sign of stock reversal from this point
Buy this stock with target of Rs. 505. since last 12 month this counter week ness it now time to enter and enjoy trade
wish you happy trading enjoy
Probability of a short term reversal with the following reasons
1. regression channel breakout
2. divergence
3. 3 outside out candlestick reversal pattern
One can buy at dips for a target of 470.
IT stocks are already on deep crisis, there is no takers for them, with GST n other euphoria people are going for FMCG,Infra, Auto, banks, so here comes Wipro which is in Bearish trend for quite a while. The reasons are :
(i) Channel Breakout happened already
(ii) Potential Double Bottom around 472, so note that
(iii) Bearish Trend - Bearish Breakout, Good for...
