Wipro Case Study: Elliott Wave Analysis for Educational Purposes

WIPRO multi time frames charts updated

Weekly Chart

Daily Chart

4 Hourly

60 Min

In this educational case study, we delve into the chart analysis of Wipro using Elliott Wave Theory. Our analysis focuses on identifying potential wave patterns and understanding the current wave structure for educational purposes only.

Overview:
After a significant decline in the larger Wave (4), Wipro appears to have initiated Wave 1 of (5). Within Wave 1 of (5), we have observed completion of sub-waves (i)-(ii)-(iii), and (iv) is nearing completion. The current structure suggests that sub-wave (v) of Wave 1 of (5) could soon commence.

Detailed Analysis:

Wave (4) Correction: Wipro experienced a notable decline in Wave (4), signaling a potential shift in sentiment.
Wave 1 of (5): Following Wave (4), the stock initiated Wave 1 of (5), marked by the completion of sub-waves (i)-(ii)-(iii).

Current Structure: We are currently witnessing the final stages of sub-wave (iv) of Wave 1 of (5), with sub-waves i-ii-iii-iv completed.
Anticipated Movement: Sub-wave (v) of Wave 1 of (5) is expected to commence soon, potentially marking the final fall before an upward move.

Risk Management and Wave Highlights:
It's essential to implement proper risk management strategies, including setting stop-loss levels to mitigate potential losses.
Traders should exercise caution and remain vigilant for any deviations from the expected wave counts.
Understanding Elliott Wave Theory can provide valuable insights into market trends and potential price movements.
Remember, this analysis is for educational purposes only and should not be considered as trading advice.

I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.

Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!

Hope this post is helpful to community
Thanks
RK💕

Disclaimer and Risk Warning.

The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.