WIPRO: Out of the shell ?
Updated
- The chart is pretty self-explanatory but here is the gist:
- 10 months of pure sideways consolidation (I get it. Wipro tested Investor's patience, the most)
- Breaks the support only to reverse back into the range, trapping sellers
- On the verge of breaking its range for the cage-free price momentum
- Also, the Indian IT sector is approaching its critical resistance for the third time. (link in the comment section)
- Don't let the analysis end here! Boost, comment, and follow for more such insightful posts
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
- 10 months of pure sideways consolidation (I get it. Wipro tested Investor's patience, the most)
- Breaks the support only to reverse back into the range, trapping sellers
- On the verge of breaking its range for the cage-free price momentum
- Also, the Indian IT sector is approaching its critical resistance for the third time. (link in the comment section)
- Don't let the analysis end here! Boost, comment, and follow for more such insightful posts
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
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Nifty IT:
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The long upper wick rejection candles show the presence of sellers at the resistance zone.Note
Wipro is a synonym to comfort zone. Just Don't wanna get out of it 🤭.Note
A breakout amidst long wick consolidation candles. Kind of lacks strength. If we swing, It will only be above 427 levels.Note
Daily Time Frame:Note
And we are back in the comfort Zone. Note
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Still above 500.\
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I would keep an eye on WIPRONote
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Crucial levels:Note
And crucial level worked like a charm. Good news+ Good price actionNote
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