WIPRO - UP FLAG ON WEEKLY CHART
Wipro Ltd. is in an uptrend since March 2020. The counter got into a consolidation of 3 months since January 2021. The consolidation has a slightly descending slope making it like a channel. The consolidation got an upward breakout on a weekly candle for the week starting on 12th April and ending on 16th April. This weekly candle closed at Rs.469.20. I anticipate the first price target of Rs.500 and the second price target of Rs.600. I suggest the stop loss at the price level of Rs.457 for the first for weekly candles. Thereafter the profit booking/ exit decision should be based on a downward crossover of 26 EMA by 5 EMA.
NOTE: This idea is an attempt to predict future price movement. Investment decision, based on this idea, should be at the sole risk of the investor.
NOTE: This idea is an attempt to predict future price movement. Investment decision, based on this idea, should be at the sole risk of the investor.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.