WIPRO trade ideas
WIPRO LONG INTRADAY 26 AUG,2021Dear trader,
If u look at the chart of WIPRO (analysis based intraday only) the WIPRO Buy at 632 and Target at 644
Best Buy at 630
Our Best Buy is based on high quality research and when the instrument reaches this level , it’s a jackpot trade.
Best Buy level might be executed or might not be executed.
The chart clearly indicates Bullish Trend you can also see the candle stick patters for more indepth analysis.
In Intraday most important thing is to enter and exit points.
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WIPRO as on 24.08.2021A FALLING WEDGE PATTERN BEING FORMED IN 15 MIN CHART!!
A PARLLEL PATTERN BEING FORMED IN 1 DAY CHART!!
A good call for intraday if candle breaks up then will retest and move to its resistance level that is off 644!!
And if candle retest then can come up to its support level which was generated with gap up opening that is off 630!!
Their will be the risky trade zone in between the pattern because of support!!
Wait for breakout in any direction for good call and do check volume and retesting value!!
(THE ABOVE ANALYSIS IS ONLY FOR STUDY PURPOSE DO NOT TAKE IT AS ANY BUY OR SELL CALL!!)
WIPRO SEEING A FLAG SHAPE ON 15 MINUTE CHART AFTER CORRECTION ON WIPRO IT MAKES A FLAG SHAPE ON 15 MINUTE CHART AS WE SEE ON THIS CHART IT MAKE HIGH OR RESISTANCE LEVEL AT 590 AND MAKE ALL TIME HIGH AT 601 WITH LOW 583 . SO, WE CAN TAKE AN OPPORTUINTY TO MAKE POSITION ON WIPRO ABOVE 590 WITH A STOP LOSS 580 FOR THE TGT OF 600 IMMEDIATELY .
WIPRO | PositionalWipro has been on a bull run since the last two months, however the stock is now retracing for the last couple of weeks. The stock is now at a 50 MA position and it seems to be respecting the 50 MA for a long time. The RSI is in the oversold zone and MACD has started fading its negative momentum. The stock is taking support at 23% retracement.
Expecting the continuation of bull run in the coming days.
Idea - Positional
CMP- 526
Target - Next 50 MA crossover
SL - 513
Sharing for educational purpose only.
Might reach till 620 to 670 by trend analysis I have used the trend analysis of the upward trend and felt like it would reach 620 or it can have a resistance at 560 which might get it into a consolidation stage.
But its highly unlikely as they are releasing their Q3 results tomorrow which is why the stocks are continuously rising.
As, its a software company and because of the pandemic software will keep growing as people have realized the importance of it.
All analysis done by me are just ideas which cannot guarantee you results and these are just ideas.
Please do not completely rely on my analysis and I suggest you to do your own analysis for better results.
Thank you !
WIPRO watch out and go looooooooongAlas !!!!!!!!!!!!! Third tech stock similar to TECHM and HCLTCH analysis. It appears that tech stock following specific trend!
Wipro completed Elliott corrective wave and begin new cycle of Impulse wave! Got good support at Fibonacci retracement level of 0.236 (410 ) .
watch out for breakout above triangle line.
If price moves above triangle, I will update T1 and T2.
If you are long time investor, cash out after 5 months (approximate time for completing New impulsive wave ).