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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NSE ADANIENT – Elliott Wave Projection

Free nse adanient daily chart calls

Timeframe: Daily
NSE ADANIENT had accomplished wave ((4)) at 1103 and started rising upward. The Average direction index is 34, which indicates the current trend is strong. Price has taken support from 50 SMA and trading above 200 EMA.

As per Elliott wave projection, The start of an impulse was a bit painful. Price constructed a leading diagonal on the wave (1). Wave (2) was a double zigzag because of the sharpness of the current trend. Price broke out wave (1) and established a building block of wave (3). Traders can count sub-waves 1 and 2 of wave (3). Wave (3) can occur at 4442 is 1.618% of wave (1). Possible targets of wave (3) are 3430 – 3816 – 4440+. Note that price may take time and form consolidation and break approach to reach the targets. Traders should wait for a pullback after every breakout.

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