Wipro
WIPRO - Darvas Box Breakout & Retesting - short term swingThis analysis is purely based on price action and Chart Patterns.
Through this analysis, a special strategy of how to trade DARVAS BOX is explained.
For similar case, one can refer the 15 minute chart of HEROMOTOCO from 03-Nov to 11-Nov. Similar Darvas Box breakout worked there.
The analysis is on 30min TF hence target can be achieved in intraday trade or in couple of days
Trade strategy is explained in image itself. Don't chase the price.
Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
Trade at your own risk and money management. Do your own study before taking any trade
Feel free to comment for any queries & suggestion
WIPRO - Break of 300 Resistance zone | HIGHER LEVELS INCOMINGThanks for coming to this update.
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WIPRO has crossed above the 300 resistance zone with good volume which is a bullish sign and should be able to hold the level.
The IT sector has been doing good in this market and has seen the second-highest rise since the crash after the Pharma sector.
Since WIPRO is a part of the IT sector, I would have a bullish view on this stock for some time.
WIPRO can come down to test the SWAP zone again but that should be a buying opportunity and we can expect more run-up in this stock over the next few days.
In terms of day trading, once the pullback is over, then buying dips would be a good strategy.
On the bearish side, if the overall market turns bearish due to some reason, then I would not prefer to be on the buy-side of any stock.
Please choose your trades wisely.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“The trend is your friend until the end when it bends.” - Ed Seykota
WIPRO ::: LONGDATE: 29 JUL 2020.
INSTRUMENT: WIPRO
END OF DAY TREND: BULLISH
END OF WEEK TREND: BULLISH
INDICATORS:
PSAR: BULLISH
STOCHASTICS: BULLISH
PRICE ACTION:
CMP: 275.45
END OF DAY :::
BUY ABOVE: 275.48
SL: 274
TGT S: 277 / 278
END OF WEEK :::
BUY ABOVE: 277.64
SL: 275.42
TGT S: 283 / 286
RISK DISCLOSURE :
Technical analysis of FOREX and INDIAN MARKETS. We are not SEBI REGISTERED ANALYSTS The views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.
Wipro Intraday & Swing Trade Idea for 24th July 2020Hey Everyone.
We had seen a breakout from couple of days ago in Wipro with high volume. Stock gives a small correction after the breakout which is a profit-booking and stock is still looking so strong. My view is long in Wipro and there are 2 buy levels for today's Intraday.
Intraday
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1st: Above 268
Sl: 265
Target: 271/274/279
Second: Buy from the bottom if stock come to test their support @261
SL: 259
Target: 264/268/271
Swing Trade idea
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Buy from: 261-268
SL: 255
Target: 280/295/315
Note: Writers can write 260 PE for July month for a sure shot profit