Wipro has been respecting a long-term trendline since 2020.
Price recently bounced from this trendline support near ₹240, showing strong buying interest.
The current structure suggests a possible trend continuation towards the higher resistance zone.
Trade Setup
Entry Zone: Around ₹245–250 (near trendline support)
Stop Loss: Below ₹230 (trendline breakdown level)
Target: ₹320 (previous supply zone / resistance level)
This gives a risk-to-reward ratio of approx. 1:3, which is favorable.
🔍 Technical Factors Supporting Bullish View
Price is consolidating above the long-term support trendline.
Multiple rejections from the downside show strong demand zone near ₹240.
If the momentum continues, buyers may push price towards the ₹320 resistance area.
⚠️ Risk Management
A daily close below ₹230 will invalidate this setup.
This is a positional swing trade, so patience is required.
Price recently bounced from this trendline support near ₹240, showing strong buying interest.
The current structure suggests a possible trend continuation towards the higher resistance zone.
Trade Setup
Entry Zone: Around ₹245–250 (near trendline support)
Stop Loss: Below ₹230 (trendline breakdown level)
Target: ₹320 (previous supply zone / resistance level)
This gives a risk-to-reward ratio of approx. 1:3, which is favorable.
🔍 Technical Factors Supporting Bullish View
Price is consolidating above the long-term support trendline.
Multiple rejections from the downside show strong demand zone near ₹240.
If the momentum continues, buyers may push price towards the ₹320 resistance area.
⚠️ Risk Management
A daily close below ₹230 will invalidate this setup.
This is a positional swing trade, so patience is required.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.