 |
| Wipro Daily Chart ( source:www.icicidirect.com ) |
Wipro has been consolidating for the past several days in a range.During today's trading session,it gave break out of that range forming a pattern similar to a bullish Triangle pattern.
The breakout took place with decent volumes.Daily Momentum Oscillators has turned positive.So long position can be initiated in Wipro at current market price of Rs 483 or on correction towards levels near 473-475.Target for this upmove can be up to Rs 540-545 with duration of 10-15 trading sessions.Stoploss for the trade can be placed safely just below 450.All levels shown are cash levels,so Futures Prices should be adjusted accordingly.
No comments:
Post a Comment