If you are lookin to buy or invest in Wipro Shares, this post about Wipro share price target in 2021 will be much useful to you. I have covered technical analysis of Wipro-NSE Stock on multiple time frames. Lets get started with yearly time frame charts.
Wipro yearly candlestick chart analysis
Wipro shares looks very bullish and shows a steady growth on yearly candlestick charts. It’s really difficult to predict the target of a trending stock without a good pullback or retracement. Below image is a yearly time frame candlestick chart of Wipro stock.
Monthly time frame Fibonacci retracement levels of Wipro shares
Again on monthly charts, Wipro stock prices shows a very strong incline. If a pullback or retracements happens, the Fibonacci retracement levels from swing low and swing high, can act as the support levels. The below example image shows crucial Fibonacci retracement levels.
Wipro can take support between 31.2%-61.8% Fibonacci levels as seen on the above charts.
First support levels on daily charts
The below daily candlestick charts of Wipro, displays the immediate first levels of support.
If Wipro can sustain these support levels, you can look for a long trade setup. Wipro stock has immediate support between 403.30-417.40 price levels. If Wipro stock breaks down these levels, you should look for the second support level discussed below.
Second support level on daily charts
On daily candlestick charts of Wipro, I have marked second support levels between 365-390.50. It looks like a good support level. If the Wipro share prices gives a pullback till these levels, you can look for an buying entry setup.
Conclusion On Wipro Share Price Target
Currently, Wipro stock looks very bullish and we need to wait for a pullback or correction on Wipro. If you already have Wipro shares, you can hold it till we get new correction and use the end of correction as a new stop loss level.