Wipro formed Spinning Candle at weekly support
Wipro has been respecting the 400- 385 zone for the past many weeks.
And this week, it formed a spinning pattern at the same support zone.
Now the chances are high that above 400 levels, it could test 420-430 levels in no time.
On the hourly timeframe, we could see price forming double bottom formation, now sustaining 392, it could move toward 400 levels initially.
400 level may act as temporary resistance and any breakout above this level, the stock would most likely be moving towards 420-430 levels.
And this week, it formed a spinning pattern at the same support zone.
Now the chances are high that above 400 levels, it could test 420-430 levels in no time.
On the hourly timeframe, we could see price forming double bottom formation, now sustaining 392, it could move toward 400 levels initially.
400 level may act as temporary resistance and any breakout above this level, the stock would most likely be moving towards 420-430 levels.
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