WIPROWIPRO trade for 10/02/2023 as we can see that price is moving in a channel even after going out of the channel price bounced back inside a range may be we can use this for F&O i highly suggest if you are buying the CE always buy some stocks of that company this way we can increase the volume and push the price more for our advantage in F&O atleast buy 4 shares of Wipro before Going for F&O
Information is only for educational purpose.//
WIOA trade ideas
Wipro EWT Analysis Wipro 1 Hrs Time Frame Elliott wave Analysis Bullish Cycle
Micro Degree in progress in 1 hour time Frame for ((iii)) wave Target Price 440.
Sub Micro degree denoted by me in blue in color
Minuscule Denoted by red in color
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Disclaimer
It is my personal research before invent in Wipro please do yourself study.
Thanks
Positional or Longterm Opportunity in WiproGo Long above 469.7 for Targets of 496.2, 522.7, 549.2, 575.7, and 602.2 with SL 443.2
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.5 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around 0.5 Fibonacci level.
3. In addition to this there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
Positional or Longterm opportunity in WiproGo Long above 396.4 for Targets of 416.5, 436.6, 456.7, 476.8, 496.9, and 517 with SL 376.3
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. In addition to this a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.618 Fibonacci level.
3. In addition to this there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.