WIT trade ideas
Wipro short viewWipro is highly overbought and at strong resistance daily rsi is above 80 since last some days
We are considering it will take some corrections from here
Decide wisely in tomorrow live market macd also showing weakness
Wipro Seems bottoming OutIt should follow the new upward Chanel. 280 and 300 seems nearest importent labels.
Wipro, E-WavePosted this stock a few days ago. It is a laggard. Price has broken down the intermediate support. If the E-Wave counting is correct, price can halt at 200 DMA which should finish a-b-c (II) correction. Now SL becomes small.
WIPRO - HEAD & SHOULDERWe can Enter SHORT in WIPRO (CMP 285) for the target of 255 & 240
Because
in DAILY timeframe this stock completes the HEAD & SHOULDER pattern with SL 310
Wipro and IT majorsBig IT stock took a beating after Trump cam to power. After several months, the environment of business was better and almost all major IT stocks made bullish moves steadily. Wipro is an exception. At present price is lingering at support which coincides with 200 DMA. It is a laggard among the lot.
WIT 6.0I know its simple but 6.0 is a nice round number and good psychological support. Sitting on 20 EMA. Watch for breakout and uptrend and buy. If it dips down wait for it to rest on the 50 EMA.
Wipro Daily chartWipro Daily chart Technical analysis.
currently it has strong uptrend channel and also cup with handle formed.
Uptrend support line is broken. we can do trade setup till the resistance point.
Also Fib retracement broken first 2 golden points(32% and 50%). potentially it will hit third golden point soon.
