Wipro giving a trendline break out.
The stock has been following a trend line from August 22 and finally there is a break out of the trend line.
Wipro on the daily time frame has closed at 398 level above the 20 EMA.
IT sector might give a nice up move as the sector has been under performing.
The stock and IT index has gained over 2% on the daily time frame.
3 points confirmation.
1. Trend line break out and closing above it.
2. Closing above 20 ema.
3. High Volume break out of the trendline.
Watch the index too for carrying the position as the IT index is near a resistance. If the index crosses and closes above the resistance, the stock can give a nice upside move.
Targets :- 404, 415
Stop loss :- 395 (daily 20 EMA)
Wait for the stock to cross the round level of 400. Intraday and swing trades can be carried in the stock.
Wipro on the daily time frame has closed at 398 level above the 20 EMA.
IT sector might give a nice up move as the sector has been under performing.
The stock and IT index has gained over 2% on the daily time frame.
3 points confirmation.
1. Trend line break out and closing above it.
2. Closing above 20 ema.
3. High Volume break out of the trendline.
Watch the index too for carrying the position as the IT index is near a resistance. If the index crosses and closes above the resistance, the stock can give a nice upside move.
Targets :- 404, 415
Stop loss :- 395 (daily 20 EMA)
Wait for the stock to cross the round level of 400. Intraday and swing trades can be carried in the stock.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.