SWING IDEA - WIPRO
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Wipro, one of India's leading information technology companies, is displaying technical signals that suggest a promising swing trading opportunity.
Reasons are listed below :
Target - 640 // 725
Stoploss - weekly close below 490
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- 550 Zone Breakout: The 550 level has been a significant resistance zone, and the price has recently broken out above this level, indicating strong bullish momentum.
- Cup and Handle Pattern Breakout: The price has broken out of a cup and handle pattern, a bullish continuation pattern that suggests potential for further upward movement.
- Bullish Breakthrough Candle on Daily Timeframe: The formation of a bullish breakthrough candle on the daily chart indicates strong buying pressure and further supports the bullish case.
- Breakout of 2+ Year Consolidation Zone: The stock has broken out of a long consolidation phase lasting over two years, signaling a potential new bullish trend.
- Support on 50 and 200 EMA on Weekly Timeframe: The stock is finding support at both the 50-week and 200-week exponential moving averages (EMA), reinforcing the overall bullish sentiment and providing strong support levels.
Target - 640 // 725
Stoploss - weekly close below 490
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Komen
hold!Komen
CAUTION!
if weekly close is below 490, then book loss
Komen
price bounced back without taking our SL, hold!Komen
hold!Komen
back to buying price, hold!Penafian
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