Sunday, January 8, 2012

Wipro Ltd. Technical Chart | 09-Jan-2012

Below is the technical chart of Wipro Ltd., listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.









Here I've used weekly time frame to get clear image of support and resistance levels. The chart managed to cross Kijun-Sen line and somehow gave better returns than many other sectors. But now, it's near kumo level, which is its main resistance. It needs to close above 426 to start its next bull run.

Resistance levels are: 420, 426, 436,454

Support levels are: 409,400

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