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.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.