WIPROWipro Technically Looking Weak
Closed Below 400 Today, Bearish Cross Over Of Ema 10 , 21 , 63 , 100 , 200
Observed Head And Shoulder Pattern In Daily Chart
Expected To Reach The Mentioned Down Ward Targets In Coming Days - For Decisive Up Move It Has To Close Above 63 Day Ema On Dcb
It Company - With Good Valuation After Hcl Tech
Long-Term Growth Is Intact
WIPRO trade ideas
WIPRO ANALYSIS!!, 50 MOVING AVERAGE!!WPRO has given a bas returns this year, its quartly results also gave a negative affect on its stock prices. but this are all short term, things.
this stock has pastly given great returns(look at the past trend i have drawn, the returns are approx.. 45% in a year).
long term things are the moving averages, stock is in tis 50 moving average, as shown in its chart. good stock to buy now.
Wipro formed Spinning Candle at weekly supportWipro has been respecting the 400- 385 zone for the past many weeks.
And this week, it formed a spinning pattern at the same support zone.
Now the chances are high that above 400 levels, it could test 420-430 levels in no time.
On the hourly timeframe, we could see price forming double bottom formation, now sustaining 392, it could move toward 400 levels initially.
400 level may act as temporary resistance and any breakout above this level, the stock would most likely be moving towards 420-430 levels.
Wipro buyWipro.
After breaking last resistance Wipro has shown big rally.after that one correction here we can see. If you apply fib level here then you will be seeng Wipro trading at .68 level. Which is good enough for instritutional players to buy this stock.
Ok,now let's go toward technical analysis too.
After this correction,it is trading at last support level where buyers was aggressive to buy.
*1 trendline is already broken.
*Very good start of making higher high and higher low.
* 2nd trendline or dynamic support is yet to break.
And showing positivity here.
We can buy here in small quantitie. And after breaking 443 we can add quantity