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wipro

Discussion in 'Technical Analysis' started by shwetagnema, Mar 26, 2013.

  1. shwetagnema

    shwetagnema Active Member

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    Wipro seems to make a W pattern with double bottoms at 426.5. if it crosses 440, it'll be a buy for the target 465 and stop loss 425
     
    shwetagnema, Mar 26, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    Can you share chart with a W
     
    shabbir, Mar 26, 2013
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  3. shwetagnema

    shwetagnema Active Member

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    right now i can't share the chart as it touched 426.4 on 20th and then today. and after that it has taken a good up move till 437.8....
     
    shwetagnema, Mar 26, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    That is too small a variation for W.
     
    shabbir, Mar 26, 2013
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  5. kamat79

    kamat79 New Member

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    can we short Wipro?
     
    kamat79, Mar 26, 2013
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  6. shabbir

    shabbir Administrator Staff Member

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    Thats too general statement without any levels and stops
     
    shabbir, Mar 26, 2013
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  7. srspriya06

    srspriya06 Active Member

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    Wipro consolidates between 425 and 440 levels. Now 440 acts as a resistance..Once it breaks this resistance there is chance to move up.. wats ur view?
     
    srspriya06, Mar 26, 2013
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  8. vishuhd1

    vishuhd1 Member

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    According to me, 450 acts as a huge resistance since the stock touched 450 many times since May 2011 and has come back.. So, if the stock breaks 450 levels then it is considered as a fresh breakout and we can go long for targets of 470 and 500...
     
    vishuhd1, Mar 26, 2013
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  9. shabbir

    shabbir Administrator Staff Member

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    Ditto on that
     
    shabbir, Mar 26, 2013
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  10. yankeedin

    yankeedin Responder

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    wipro has now formed U pattern and has consolidated well near 450-460 range. Time to buy wipro now for target 550-580, SL of 430.. Any comments on this!!!!
     
    yankeedin, Aug 26, 2013
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  11. shabbir

    shabbir Administrator Staff Member

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    I second that but buying is based on anticipated breakout pattern and so if you also plan to do so, read that section of the ebook.
     
    shabbir, Aug 27, 2013
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  12. shwetagnema

    shwetagnema Active Member

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    now its a breakout, so a definite buy?????isn't it
     
    shwetagnema, Aug 30, 2013
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  13. shabbir

    shabbir Administrator Staff Member

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    Yes.
     
    shabbir, Aug 30, 2013
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