Wipro Technical Analysis Report – 19-04-2021
Weekly Chart (473.56)
HISTORICAL PRICE ACTION ANALYSIS
Short Term Trend: Upward
Long Term Trend: Upward
Range: 253.44 to 451.65
Resistance: 485.91, 516.08, 536.02, 567.08, 606.20
Support: 451.65, 440.08, 409.8, 395.51, 282.05, 360.56, 339.16, 324.02, 302.15, 281.12
Buying Pressure: Above 281.12
Movement in the past few weeks: Range bound
Movement in the past few days: Resistance breakout
EXPECTED FUTURE PRICE ACTION
Reversal Expected/ Correction: Chances are Low
Expected movement in the next few days: Upward
Expected Short Term Trend: Upward
Expected Long Term Trend: Upward
Expected Range: 395.51 to 606.20
Expected Resistance: 485.91, 516.08, 536.02, 567.08, 606.20
Expected Support: 451.65, 440.08, 409.8, 395.51, 282.05, 360.56, 339.16, 324.02, 302.15, 281.12
Expected Buying Pressure: Above 451.65
Expected Selling Pressure: Below 380
Trading with proper stop loss depending upon the volatility will limit the trade risk exposure. Any trigger of stop indicates further revision of strategies as stop loss trigger can drag the prices further in the same direction of stop loss or a change in price direction. So one should be careful and should watch the prices for some time before taking any decision on such events.
Any range breakout or breakout below support levels may create significant short term selling pressure that may allow the prices to depreciate further to its next support level. Any range breakout or breakout above resistance levels may create significant short term buying pressure that may allow prices to appreciate further to its next resistance level.
Short Term Trend: Upward
Long Term Trend: Upward
Range: 253.44 to 451.65
Resistance: 485.91, 516.08, 536.02, 567.08, 606.20
Support: 451.65, 440.08, 409.8, 395.51, 282.05, 360.56, 339.16, 324.02, 302.15, 281.12
Buying Pressure: Above 281.12
Movement in the past few weeks: Range bound
Movement in the past few days: Resistance breakout
EXPECTED FUTURE PRICE ACTION
Reversal Expected/ Correction: Chances are Low
Expected movement in the next few days: Upward
Expected Short Term Trend: Upward
Expected Long Term Trend: Upward
Expected Range: 395.51 to 606.20
Expected Resistance: 485.91, 516.08, 536.02, 567.08, 606.20
Expected Support: 451.65, 440.08, 409.8, 395.51, 282.05, 360.56, 339.16, 324.02, 302.15, 281.12
Expected Buying Pressure: Above 451.65
Expected Selling Pressure: Below 380
Trading with proper stop loss depending upon the volatility will limit the trade risk exposure. Any trigger of stop indicates further revision of strategies as stop loss trigger can drag the prices further in the same direction of stop loss or a change in price direction. So one should be careful and should watch the prices for some time before taking any decision on such events.
Any range breakout or breakout below support levels may create significant short term selling pressure that may allow the prices to depreciate further to its next support level. Any range breakout or breakout above resistance levels may create significant short term buying pressure that may allow prices to appreciate further to its next resistance level.
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