NSE WIPRO – breakout setup
NSE Wipro has exhibited a cup and handle pattern on its daily timeframe chart, suggesting a potential breakout scenario. The stock is currently trading above its 10/35/50 Simple Moving Average band, indicating bullish momentum. Additionally, the Average Directional Index (ADX) reading is above 33, indicating significant strength in the prevailing trend.
Should the price successfully breach and maintain levels above 501, traders may consider initiating positions with target prices set at 510 – 527 – 538+. It is prudent for free traders to use the previous day’s low as a reference point for invalidation of the setup.
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