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WIPRO LTD Trend Analysis
WIPRO LTD
Short
WIPRO LTD Trend Analysis
By Swastik24
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May 30, 2022
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May 30, 2022
4th largest Indian player in the global IT services industry behind TCS, Infosys and HCL Technologies.
Company is having sound fundamentals.
Technically it is highly bearish.
In short term, a pullback towards 500 odd levels is more likely for a possible bull trap.
530 level will act as strong resistance zone (highlighted in red).
Expecting IT index to correct further 30% towards 21000 odd levels which will drag this towards the support level around 330-365 level.
Accumulate around 330-365 level as it lies in confluence with trendline support and golden FIB zone.
Will update the possible targets later.
Do your own due diligence before taking any action.
Peace!!
Beyond Technical Analysis
Chart Patterns
Trend Analysis
wipro
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wiprooverview
wiproshort
wiprotechnicalanalysis
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