WIPRO READY TO BROKEN MONTHLY CUP AND HANDLE PATTERNWipro was strong on Monthly and weekly chart's ready to broken a long term cup and handle pattern.
WIPRO trade ideas
Wipro at important level looking good to go longWipro has taken support from from 200 ema
and 0.68 FIB lvl
and as well at an important lvl on Weekly TF
Looking good for long once cross 18 ema
WIPRO Cup and Handle break out after Rs. 5501. WIPRO has completed Cup & Handle pattern successfully.
2. Wait for Break out above Rs.550.
3. Recently we have seen increased volume also.
4. Trading above 30 EMA on weekly timeframe.
5. One can enter on break out above Rs. 550 (at own risk) for a target of Rs. 721 within 3 - 4 months time.
6. Keep a strict stop loss at Rs 525 after which short term trend will become weak.
Wipro in uptrendWipro has finished the correction and now resumed the upside.
It would be a good opportunity to buy it on dips when the risk to reward ratio is favourable.
Will keep you guys posted
Wipro near Cup & Handle Breakout on WeeklyWipro is having a long history of growth and revival.
Recently formed a Base, and now forming Cup & Handle Pattern on Weekly Charts
An investment for duration of 2-3 Yrs can give a good return.
Wipro is near to a break-out.Buy near 540
Target: 600+
It is clear from the trend line that Wipro is about to break out near 540.
WIPRO WIPRO good time to consider entering a long position
however, it essential to do your research, should follow stop loss
WIPRO's Bull Run: A Favorable Risk to Reward OpportunityIn my previous post, I emphasized that the broader IT Index has the potential to outperform the market as it enters the minor 3rd wave of the major 5th wave. Among the various stocks in the indices, WIPRO appears to have a more favorable technical setup, which could result in a significant gain of approximately 40%-50% over the next 6-8 months. The decision to choose WIPRO is based on several parameters:
1. Wave Analysis - WIPRO has recently entered the 3rd wave.
2. Price action -The previous two-year consolidation was successfully retested
3. There are fewer upward resistance points (only two main supply and resistance zones).
4. The risk-reward ratio is 1:3.3, which is considered very healthy.
All the necessary information for entry, stop loss, target, and wave count can be found on the chart. We will closely monitor the stock movement and provide updates accordingly. However, it is important to remain cautious of the upcoming US election, as the IT industry is more influenced by and dependent on the US economy than the Indian economy.
Disclaimer: Please note that the information presented in this analysis is intended for educational purposes only. It is highly recommended to seek advice from a financial advisor before making any investment decisions. I cannot be held accountable for any financial losses that may arise
Bullish Cup and Handle Pattern: Wipro Heading Towards 545Details:
Asset: Wipro Limited (WIPRO)
Pattern: Cup and Handle
Breakout Level: Above handle resistance (specific level not mentioned, assuming current resistance)
Potential Target: 545
Stop Loss: Below breakout level or as per risk tolerance
Timeframe: Short to medium-term
Rationale: Wipro Limited (WIPRO) is forming a cup and handle pattern, which is a bullish continuation pattern. A breakout from the handle could indicate the potential for a significant upward move towards the target of 545.
Market Analysis:
Technical Pattern: The cup and handle pattern is a bullish formation that typically signals further upside. Breaking out from the handle suggests a resumption of the prior uptrend.
Market Sentiment: Positive market sentiment or company-specific catalysts may be supporting the anticipated breakout in WIPRO.
Price Target:
The target for WIPRO is set at 545, based on the cup and handle pattern breakout.
Risk Management:
Implementing a stop loss strategy below the breakout level (handle resistance) is crucial to manage risk in case of unexpected price reversals.
Timeframe:
The projected move towards 545 is based on a short to medium-term outlook, but actual timing may vary based on market conditions.
Risk-Reward Ratio: Consider individual risk tolerance and adjust position size accordingly to maintain a favorable risk-reward ratio.
As with any investment opportunity, conduct thorough analysis and consider factors such as market trends, company fundamentals, and risk management strategies before making trading decisions.
WIPRO Multiyear breakout#nifty50 Stock ready for rally 🔥
✍️High Potential 3-year Breakout
✍️Expecting 20 to 30 % within a year
🔥PE Ratio - 25
💵1 year CAGR- 30%
#BreakoutStock #stockmarket #StockMarketindia #multibagger #StocksToBuy #StocksToWatch
#gold
Long _WiproCurrently Wipro trading @ Good support in monthly timeframe.
Sep_2024 Futures is bet @ monthly timeframe.
Pros:- Bullish Engulfing @ Support.
Stock consolidation for almost 2 years and breakout above monthly high will give good rally
till 600.
Cons:- Nasdaq closed negative from ATH.
Happy Trading!! Only for educational purpose.
Breakout Stock: WIPROOn Weeklay Chart Wipro has given a Breakout
Strong Momentum: Price above short, medium and long term moving averages
Key Resistance: 550, 608
Support: 440
Wipro is ready to form Cup and handle pattern on weekly chartMajor stock in Nifty IT also showing uptrend after continous down fall. One can enter into it as swing or positional trading.
WIPRO, Technical Outlook (Keep this stock in the watch list)Today the price has closed on the resistance level with a RSI of above 60. All this indicates the price is in good momentum.
The breakout of 492 could open the higher levels of 545.
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
WIPRO reversal of trendThe downward trend seems to have ended although no one can be sure of it.
Technical factors
1. local ema support,
2. price action favouring bullish upcomming move(candles),
3. change in structure.
Wipro creating good swing trade in weekly time frame Wipro creating good swing trade in weekly time frame
Price consollidation near 200 EMA since 2 years and time to breakout consolidation upper zone.
As per wave theory its ready to create fresh 12345 in weekly time frame and 5 of Monthly time frame.
Buy Wipro for a target of 540Wipro has given breakout from a strong resistance zone,Buy Wipro for a target of 540 in 10 trading sessions
Wipro-An amazing opportunity to enter a bluechip stock!Wipro had a strong resistance of 450 which broke and is now acting as a support.
Since Nifty IT is looking bullish, we can expect a reversal in this stock.
An amazing investment stock available at a very good price.
#Wipro important support and resistance levels#Wipro important support and resistance levels
Swing target 500/515/545
#swintrading #wipro
Wipro formed Big Bullish candle on Weekly TFIT Sector witnessed strong momentum in last week
Wipro took support around prev week lows & came near 480 level
It may come for retesting levels, track for Bullish pattern with all confirmations
Downside imp support is placed around 450
whereas upside hurde is at 495/495 zone
Learn and P ractice Price Action Setups
