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WIPRO LTD

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WIPRO trade ideas

Wipro - Contra tread LongThis is not an investment advice, only for academic purpose, apply proper risk management After a disappointing result, Wipro spooked 10% on thursday and friday. At present, Monthly TF - Last month was TD 9, chikou span will face resistance from candlestick at the region of 340-320 Weekly TF - This week was TD8, next week is likely to be TD9, unless a close above 400. Daily TF - TD countdown 13. Weekly RSI is showing multiple positive divergence. Market has a strong support near 350-320 region. Therefore, it can be presumed that the market is likely to WIPRO is likely to bottom at around 350 next week. Tom De mark count 9 and 13 can provide good top and bottom signal. Recently, HCL tech bottomed on 890 on the week it flashed TD9 signal on weekly basis. From that upmove of 15 % in 3 months. Carborundum universal bottomed on 660 on the week that flashed TD9 signal on Weekly and TD13 signal on daily TF, upmove around 40% in 4 months, which i missed. Bank nifty and nifty recently flashed TD9 sell signal on weekly TF So, my strategy will be to buy @ 350 with portion addition upto 320. After 62% retracement of the previous upmove, it is highly unlikely that WIPRO will move to 263, the next support. Investment horizon -long term
NSE:WIPROLong
by suman6saha
Still Bullish with Wipro -- if conditions metI am sharing wipro chart. We have seen wipro results for the quarter and it say its not up to the mark. But chart is saying a different story. Have a look at the chart I have shared with you. Despite of so much ups and downs in Nifty and the whole global markets... Wipro is not ready to give up. Looks like some kind of accumulation is going on. And RSI is showing some strength. So far so good... We can still play with wipro specially if it closed above the trendline I have drawn, which is actually holding it for any movement towards north. If we get a closing above this trend line we can look an upside movement in. the stock First target will be 445, as this was the major recent swing. Above 445 our XABCD pattern will get activated and then we can see a target of 480 in some weeks. Remember the XABCD pattern will only give you target once we get a strong closing above 445. Meanwhile we can keep a strict stop loss of 380.
NSE:WIPROLong
by LBilgir
2
WIPRO Available @ major support zone - Breakout of Double BottomThis can be a great position to add for investment as well with very low risk. IT stocks have already faced big downside and in longer term, the downside is limited but upside is huge. The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets. Trade setup is explained in image itself. The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
NSE:WIPROLong
by TradewithAditya