WIPRO LONG Trade Hits First Target! Bullish Momentum Builds

14 ott

Wipro has shown a strong bullish movement, reaching Take Profit 1 (TP1) at 550.85 on 14th October at 12:45 PM.

Key Levels

• Entry: 540.80 – Wipro started its upward movement from this key support level, leading to a breakout.
  
• Stop-Loss (SL): 532.65 – This level is positioned below the entry to protect against any potential downside risk.
  
• Take Profit 1 (TP1): 550.85 – Already achieved, confirming the strength of the uptrend.
  
• Take Profit 2 (TP2): 567.10 – The next target to watch as bullish momentum continues.
  
• Take Profit 3 (TP3): 583.35 – If buying pressure persists, this level could be tested next.
  
• Take Profit 4 (TP4): 593.40 – The ultimate target signaling the potential for a strong bullish rally.
  

Trend Analysis

The price is clearly above the support of the Risological dotted trendline, indicating a strong uptrend. The sharp upward movement followed by a small consolidation suggests the possibility of further gains.

With TP1 reached, the next targets are in focus, and a move above 550.85 will likely lead to TP2 being hit.

Wipro has reached its first profit target at 550.85, confirming bullish momentum. The next targets at 567.10 and beyond could be reached if the uptrend holds, with solid support from the Risological trendline and strong buying interest.