TheChartereds

WIPRO: Out of the shell ?

Long
TheChartereds Updated   
NSE:WIPRO   WIPRO LTD
- 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

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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.
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Wipro is a synonym to comfort zone. Just Don't wanna get out of it 🤭.
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A breakout amidst long wick consolidation candles. Kind of lacks strength. If we swing, It will only be above 427 levels.

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Daily Time Frame:

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And we are back in the comfort Zone.
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Still above 500.
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