Wipro weekly chartWipro weekly chart
> Accumulation has been completed. new uptrend will start soon.
> we can say it a stage 1 beakout
Only for journaling not for the trading.
This post is for my personal use.
Note : only for learning, not a trading recommendation. i am posting as a trading journal before and after breakout.
WIPRO trade ideas
Wipro for next two years Weeklt and Monthly Chart of the stock is bullish, uptrend resume in the stock, can buy at this level and can also buy on dips for long term target 800 in next two years, Tech mahindra, Infosys, TCS, and other good fundamental companies of IT Sector are recommended for next two years.
Long Wipro - Target 830Wipro after fall from 734 to 400 level has taken support near the 61 percentile of fibonacci retracement and is consolidating.
This is long term view based on predictive trend chart.
Long for a target of 830 once it closes above 420 on monthly basis
Very small stop loss will be 380 on monthly closing basis.
WIPRO Ltd., 20% ROI, Right time to invest.Right time to invest.
fundamentally good.
.
Entry:425
target:435 / 459 / 531
stoploss: 415
major stoploss/ support: 399
.
.
Enter conservatively after "425"
.
IT stocks are going to boom.
long term investment; min 20% return.
huge potential is there.
Long term holding ;
if you are interested in invest NOW, go for it with small risk,
.
.
.
. more than that "WIPRO". , is fundamentally good.
.
.
.refer our old idea attached below
Investment_ WiproNamaste!
Wipro has been sold off (down 47% from the ATH) because of technology sector (NASDAQ 100) being selling off since the start of the year. Buying good companies at a discount is always a good idea.
So, I see a very good investment opportunity in this stock. Remember, investing is different from trading. There are only two scenarios in my opinion, either a company goes bankrupt, or I make money. I, even ( no one ) can predict when will the stock rise or reach the price targets. But, don't sell in a loss.
Q: When and what price to buy?
A: Entry price is Rs 415.05 . Well, I generally place a buy-stop orders above candle's high. There is always a resistance (sellers) above the high of any candle. So, logic is that, buyers have to be more powerful to move any stock above the highs. Hence, I will be joining strength and buying above highs.
Q: What if it doesn't execute?
A: Entry price won't be changed until I update it here. You can place GTT (Good Till Triggered) orders with your broker. Means, in a span of one year, whenever the stock reaches that price, you will be automatically buying it at a mentioned price.
Remember, I have a well planned investment method. Everything is pre-decided, when to buy, when to sell, how much shares to buy, capital allocation: Everything. So, kindly prepare yours. I share many stocks, from different sectors, different market caps, etc. So, it is your responsibility to select your favorite ones. Even if you're getting returns >12% annually, you should be very happy because you're beating the markets.
Disclaimer: The analysis I have shared is based on my understanding and experience in the markets. Investment carries an element of financial risk. Please do your analysis and/or consult your financial advisor before investing. I already have some shares and will add more if I get another opportunity.
WIPRO BULL REVERSAL SETUP NSE:WIPRO
Wipro Ltd. is a global information technology, consulting, and outsourcing company, that engages in the development and integration of solutions.
Technical Analysis
= Ended Elliot Correction wave at major support Zone.
= Formed a doji bar on daily chart and 5 day consolidation range.
= RSI and stochastic are rising from below.
= The Nifty IT sector is also forming a range that possibly can break out in upcoming sessions.
- Entry is above range marked on chart
- Stop loss is below the doji candle Formed at support zone.
Next resistance zone is 400.
Study chart for visual view.
Keep learning
Happy trading.