Wipro Breakout (Trend Reversal)

16 Ağu 2023

Hello friends, As you can see on this provided chart that price was trading in a descending channel with lower highs and lower lows but from the last two swing lows it rescued from previous swing lows and formed higher lows and trying to change the trend and now it gives a breakout of channel resistance and formed a higher high with this breakout so we can hope it is a starting of trend reversal and can see good price expansion in coming sessions, targets mentioned on chart for this trade, 400 levels is looking a good support zone now on weekly closing basis.


This is not and trade or investment advice. This idea is meant for learning only.

1 Eyl 2023

Not

GIVES A HIGHEST WEEKLY CLOSING AFTER MENTIONED BREAKOUT SO NOW HOPING PRICE WILL MOVE IN WANTED DIRECTION AFTER THIS GOOD WEEKLY CLOSE, AS CLOSINGS ARE MUCH IMPORTANT IN TA FOR SUSTAINING A BREAKOUT.

4 Eyl 2023

İşlem aktif

Aftre gives a nice close last week as mentioned in update above, started performing after resistance break. Sharing daily chart mates

4 Eyl 2023

İşlem aktif

Conquered 100 Ema on weekly chart after more then one year friends, positive sentiment for it

12 Eyl 2023

İşlem aktif

Sector supported price gradually moving towards target one .
Trailing stop loss update- now i will trail my stop loss to cost price.
Gained almost 5% so far.

18 Eyl 2023

İşlem aktif

Price seems it took a strong resistance from last swing top in last session, although one strong resistance is breached and close above on weekly chart and it gives strength to price. Direction seems it turned on positive side every decline i will add till stop loss so sharing a retest view also can take support from that zone which earlier was it's resistance

11 Eki 2023

Not

After publishing this idea it went swing high of 443 and after came down to0 mentioned strong support in idea description of 400 so on 4Th October it made a low of 400.65 so technically it was not taken stop loss although it was very marginally but no triggred.

Motive of this update to confirm update above in which i said that i will add till stop loss and now getting good bounce from there and now average cost price come less from the published breakout, Marked a fresh resistance to if close above we can see momentum again in it. Thanks for reading mates

18 Ara 2023

Not

Hello Friends and Trading community i am updating this trading idea by considering the re-entry on a certain published breakout level because after publication that time entire markets was not good and nifty also reached 18800 levels after hiting top of 20200 and results was also not good, Altough i updated above that i will add dips too so it makes no trouble for me after taking certain stop mentioned in description because i added at 400 levels too and now it almost reached to target one in last session i am not taking any credit for this target because market is supreme only updating this idea on technical gounds which i am sharing below mates.

Technical view-:
Price gives a highset weekly close after June 2022 it is highest weekly close almost after 18 months friends and close above two big swing tops too which i am mentioned in this update, So now from here if price will sustain above target one with strength we can see further targets soon

26 Ara 2023

Not

Price reached to target resistance two mates of 473 it is the impact by the technical aspects i shared in update above one can read update above and understand better that how we are getting taget two in very less time after, So now from here if price will break resistance target two and close above we can see final target for this idea very soon price is looking in good momemtum mates. Thanks for reading and supporting my post guys

15 Oca

İşlem kapandı: hedefe ulaştı

All targets complete for this wipro publication friends last and final target of 522 also completed from 419 levels and somehow price taking resistance target from last target so far if close above we can see more bullishness in this counter. I am closing this publication completely, will publish a new idea on Wipro if i find any good trading oppotunity of trading in it. Hope all of satisfied by the given updates for this publication, Cheers happy trading