Wipro Trend direction..Good for long term investmentWipro 242 has given a symmetrical triangle pattern which is indecisive . Resistance at 249 ad support at 238. it may move any ways. Volume suggests bulls over bears.
Fundamentally it is trading at 10 Years of P/E which is good for long term investment. Additionally FII's have the highest stake in this quarter of last 12 quarters.
WIPRO trade ideas
IT Stock Wipro Ltd. trading near good SupportSince 2001, Wipro Ltd has been moving within a three-part divided parallel channel. The monthly chart highlights a major polarity zone, suggesting that the stock is currently near a significant support level. On the daily timeframe, Wipro is also forming a rising wedge pattern, with the price hovering around another strong support zone.
we are waiitng for long on wipro at 200 level we can go long if we got entry @200 level in wipro
with stoploss of 170 level
buy side entry only @200 level
stoploss 170
1st target - 320
2nd target - 500+
note: do not entry on cmp because our stoploss will be bigger here and target will be small so we must have to wait for best entry on 200 level
WIPRO can be buy with a tight stop-loss. Ignore the news and focus on the chart. If the stop-loss hits, no worries, we just have to follow the plan and try again.
Disclaimer:
This is not financial advice. Please do your own research or consult with a financial advisor before making any investment decisions. Investments in stocks can be risky and may result in loss of capital.
Wipro Demand ZoneWipro Demand Zone (DZ) refers to a specific price level or range where Wipro's stock is expected to attract significant buying interest, potentially leading to a price reversal or bounce. This concept is widely used in technical analysis to identify key support levels where traders can look for buying opportunities.
WIPRO- for investment WIPRO- for investment potential 2X stock in an year.
IT stocks will show some good moment in coming year, this could be one of them !!
Buy zone Buy Zone 390 to 440
Investment Targets :- 855, 976 ,1105 may be 1242
Please do your due diligence before trading or investment.
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WIPRO LTD S/R for 21/1/25Support and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) :
Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum.
Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
Amazing breakout on Weekly Timeframe - WIPROCheckout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favor that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get amazed!!
#No complicated chart patterns
#No big big indicators
#No Excel sheet or number magics
TRADE IDEA: WAIT FOR THE STOCK TO BREAKOUT IN LOWER TIMEFRAME AND RETRACE IF NEEDED. SL IS NEARER SUPPORT ZONE IN Daily TIMEFRAME.
Checkout an amazing breakout happened in the stock in Weekly timeframe.
Breakouts happening in longer timeframe is way more powerful than the breakouts seen in Daily timeframe. You can blindly invest once the weekly candle closes above the breakout line and stay invested forever. Also these stocks breakouts are lifelong predictions, it means technically these breakouts happen giving more returns in the longer runs. Hence, even when the scrip makes a loss of 10% / 20% / 30% / 50%, the stock will regain and turn around. Once they again enter the same breakout level, they will flyyyyyyyyyyyy like a ROCKET if held in the portfolio in the longer run.
Time makes money, GREEDY & EGO will not make money.
Also, magically these breakouts tend to prove that the companies turn around and fundamentally becoming strong. Also the magic happens when more diversification is done in various sectors under various scripts with equal money invested in each N500 scripts.
The real deal is when to purchase and where to purchase the stock. That is where Breakout study comes into play.
LET'S PUMP IN SOME MONEY AND REVOLUTIONIZE THE NATION'S ECONOMY!
WIPRO CMP 558.Gaint multibagger Study on weekly timeframe. Its trading at 52 Week High Zone.Above all Short term,Long term moving everages.Volumes are also gaining.Sign foe a potential uptrend.If it sustain above levels we can see a sharp rally on this counter.Add wachlist and find your best Risk Reward and Entry Exit area thanks.
WIPRO LTD S/RSupport and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
SWING IDEA - WIPROWipro , one of India's leading information technology companies, is displaying technical signals that suggest a promising swing trading opportunity.
Reasons are listed below :
550 Zone Breakout : The 550 level has been a significant resistance zone, and the price has recently broken out above this level, indicating strong bullish momentum.
Cup and Handle Pattern Breakout : The price has broken out of a cup and handle pattern, a bullish continuation pattern that suggests potential for further upward movement.
Bullish Breakthrough Candle on Daily Timeframe : The formation of a bullish breakthrough candle on the daily chart indicates strong buying pressure and further supports the bullish case.
Breakout of 2+ Year Consolidation Zone : The stock has broken out of a long consolidation phase lasting over two years, signaling a potential new bullish trend.
Support on 50 and 200 EMA on Weekly Timeframe : The stock is finding support at both the 50-week and 200-week exponential moving averages (EMA), reinforcing the overall bullish sentiment and providing strong support levels.
Target - 640 // 725
Stoploss - weekly close below 490
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