WIPRO - DAILY CHART - 26.09.2022 - BAHAVAN CAPITALWIPRO as per Daily chart analysis stock Above 402 then Target is 425.
With FII Net Selling 5101.30 Crores and DII Net Buying 3532.18 Crores it looks like FII have begin the selling once again and tomorrow could be an important day to see whether market is able to recover by consolidating forming a Reversal Doji candle in Nifty and Bank Nifty or continue to fall. Lets see whether the market if at falls can take reversal at jun 17th 2022 Nifty level of 15183.
I have Bought Vedanta and will continue to buy more stocks during this correction.
Happy Profitable Trading to all..
Happy Navaratri wishes to All...
WIPRO trade ideas
Wipro near a break down (26/09/22).Wipro has been consolidating in a range and is forming a double bottom pattern on the weekly time frame.
The stock has closed below its 200 ema (weekly chart).
The whole IT sector has been in a consolidation phase and is near its recent low.
On the daily time frame, stock has given a negative candle and retested its levels of 400.
Confirmation points.
1. Closed below 200 ema (on weekly time frame)
2. Started trading below 400 level.
3. Head and shoulder pattern on daily time frame.
If the stock closes below 392 level on hourly time frame, a trade can be initiated.
Target :- 386.5, 374
Wait for the stock to close below the levels. A price action is must to enter the trade.
Wipro Bottom and Triangle Wipro is one of the large cap IT stocks that has been hammered by the stock market. However, one can see a decent triangle formation and bottom formation going on here. If this formation succeeds, it can be a great accumulation zone for the stock for the medium term. The base of the triangle (marked in the chart) is your stop loss.
WIPRO 19SEP2022Wipro from past days taking the support of level 400 and jumps back to make a bull run but from the past days it makes the DESCENDING TRIANGLE PATTERN which is a bearish
pattern
SELL
SELLING below the level of 400 can lead it up to 380--350 level on the lower side.
BUY
Buying is gonna be risky from this point but taking support of level 400 can push it to the rejection trendline.
Wipro Near Support ZoneIt looks like accumulation is completed by big players between the range 400 - 420.
As per the option chain also support is formed @ 420 level. So we can expect some upward movement in this stock.
And also if Nifty wants to cross 18000, IT sector contribution is necessary, so I hope now IT sector will recover and boost the NIFTY to go up.
Wipro - Close above trendline, taken moving average supportWipro Analysis for leaning purpose.
1. Taking Moving Average Support (MA 44, MA 50, EMA 44, EMA 50)
2. Closing Above Trendline
3. Already taken support from Monthly .618 Level
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Wipro - Possible Wyckoff accumulation scenarioKey highlights:
⚡️ Consolidating in the weekly demand zone for the last 3 months.
⚡️ Wyckoff accumulation schematic on the daily time frame.
⚡️ The market structure started shifting after the establishment of the low on 15 July. Hence, it is an important low.
⚡️ The logical short-term target is near the 490 zone. If the price manages to push above the range high, expect 490-500 in the coming weeks.
Disclaimer : This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
Wipro Descending Triangle Analysis 🔥Wipro Descending Triangle Analysis 🔥
The above chart of Wipro laid out the descending triangle pattern. This pattern is often regarded as a characteristic of a bearish trend . It is formed by the upper trend line that connects the highs and a horizontal trend line connecting lows converges to form a triangle. If the price action breaches the lower support level , the bearish trend would be sustained.
Currently, Wipro is in the range of Rs 417.15. If the pattern continues, the price of Wipro might reach the resistance levels of Rs 446 and 476. If the trend reverses, then the price of Wipro may fall to Rs 410
Trading Level ✅
Entry Point - 425 ( Breakout region)
Stop Loss - 410 (Previous Swing Low)
Target - 446-476
Happy Trading