Wipro Elliott wave Daily chart Analysis
Wipro price is an uptrend from the pandemic significant low 160 to 730 in the channel and has completed 5th waves of daily waves and 3rd wave of weekly waves.
At present time price has completed flat correction of daily wave 5, denoted ABC
Wave A beginning 730 to 604
Wave B is ended near the starting point of wave A up to 99% which is not beyond the beginning of wave A.
Wave C is an Extension of Wave B, 532 (1.41% fib ratio relationship).
Wave C ended denoted by wave W on a higher degree.
Price may go for X waves up to 680-700 retracement of wave W
we can invest for short time for wave X up to 15-18% with stop loss below 530 follow strictly stop loss.
RSI shows Bullish Diversion.
If We Read weekly Degree, price 3rd wave has complete 261.8% of projection of wave 1 After the breakout of multiyear level 380 and 4th wave under construction it should be a complex structure WXYXZ. present time price Flat correction completed which is one part of complex structure finally weekly 4th wave may be ended near 380 (0.618% retracement of whole waves) or pullback of the breakout of the multiyear level it will be given the best opportunity to invest for a long time when wave 4th Finish on the higher degree.
Disclaimer
This analysis is for only educational purposes.
Before Investment please guide your financial adviser.
Wipro price is an uptrend from the pandemic significant low 160 to 730 in the channel and has completed 5th waves of daily waves and 3rd wave of weekly waves.
At present time price has completed flat correction of daily wave 5, denoted ABC
Wave A beginning 730 to 604
Wave B is ended near the starting point of wave A up to 99% which is not beyond the beginning of wave A.
Wave C is an Extension of Wave B, 532 (1.41% fib ratio relationship).
Wave C ended denoted by wave W on a higher degree.
Price may go for X waves up to 680-700 retracement of wave W
we can invest for short time for wave X up to 15-18% with stop loss below 530 follow strictly stop loss.
RSI shows Bullish Diversion.
If We Read weekly Degree, price 3rd wave has complete 261.8% of projection of wave 1 After the breakout of multiyear level 380 and 4th wave under construction it should be a complex structure WXYXZ. present time price Flat correction completed which is one part of complex structure finally weekly 4th wave may be ended near 380 (0.618% retracement of whole waves) or pullback of the breakout of the multiyear level it will be given the best opportunity to invest for a long time when wave 4th Finish on the higher degree.
Disclaimer
This analysis is for only educational purposes.
Before Investment please guide your financial adviser.
