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WIPRO LTD

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WIPRO trade ideas

Hammer PatternHammer candlesticks typically occur after a price decline. They have a small real body and a long lower shadow. The hammer candlestick occurs when sellers enter the market during a price decline. By the time of market close, buyers absorb selling pressure and push the market price near the opening price. The close can be above or below the opening price, although the close should be near the open for the real body of the candlestick to remain small. The lower shadow should be at least two times the height of the real body. Hammer candlesticks indicate a potential price reversal to the upside. The price must start moving up following the hammer; this is called confirmation. Script = Wipro Time Frame = 1 Day
NSE:WIPROLong
by Jainshashwat
Wipro... weekly chart analysisAfter the high of 739.85 the stock corrected almost 50% with strong support at levels around 370-375. Double bottom formation with stock price closing near the 40 weekly moving average. The price crossing the 40 weekly moving average with good volume would be a positive sign. Important levels to watch: 416 which is the neckline with initial targets of 427 and 450. Might see some resistance at 450, beyond which 495-500 could be a possibility in the medium term. Keep a strict stop loss at 5-8%. Also price falling below the support zone of 376 would trigger caution. Note: Not a buy/sell recommendation. Do consult your investment advisor.
NSE:WIPROLong
by TheUnlearningOne
WIPRO analysisWIPRO , the IT giant has consolidated heavily for a long time and has formed a good bottom kind of structure , with weekly candlle showing good buying pressure from lower areas and also sustaining above support of 390 levels , this is looking good for an upmove towards 420-425 levels , with SL of just 2.5% and targets of almost 9% risk to reward ratio is highly in our favour and looks good for a swing trade , Do follow for more trade setups and swing trades
NSE:WIPROLong
by sniper1290
WIPRO LTD (Triple Confirmation Strategy)This study is to show the importance of a simple Triple confirmation Strategy in WIPRO that has generated a good return in the past and currently shows the same confirmation. 1. 200 Weekly Moving average – the stock must have tested the 200 Weekly Moving Average. 2. Rate of Change must be above 1 3. RSI must be at or above 50 or marginally lower. In the Past: Week starting 5th Aug 2013 with the same confirmation, the stock rallied 56.39% .Week starting 14th March 2017 with the same confirmation, the stock rallied 32.54% .Week starting 20th Aug 2018 with the same confirmation, the stock rallied 43.21% .Week starting 6th July 2020 with the same confirmation, the stock rallied 232.44% Currently: Wipro shows the very same 3 confirmations on Weekly chart, it has tested the 200 Weekly Moving Average and taking support beautifully. -ROC is above 1 -RSI is very near to 50(Exaggerated Divergence Pattern Formed) So it can be hoped that the stock is going to perform good in the weeks to come .The targets would be 449(Support & Resistance zone) next would be 535. Stop Loss very strictly below 375. CHART & ANALYSIS ADARSH DEY
NSE:WIPROLong
by AdarshDey