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WIPRO has crossed above the 300 resistance zone with good volume which is a bullish sign and should be able to hold the level.
The IT sector has been doing good in this market and has seen the second-highest rise since the crash after the Pharma sector.
Since WIPRO is a part of the IT sector, I would have a bullish view on this stock for some time.
WIPRO can come down to test the SWAP zone again but that should be a buying opportunity and we can expect more run-up in this stock over the next few days.
In terms of day trading, once the pullback is over, then buying dips would be a good strategy.
On the bearish side, if the overall market turns bearish due to some reason, then I would not prefer to be on the buy-side of any stock.
Please choose your trades wisely.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“The trend is your friend until the end when it bends.” - Ed Seykota
Before you start reading kindly hit that like button. It motivates me to keep doing such work for free.
Thanks
WIPRO has crossed above the 300 resistance zone with good volume which is a bullish sign and should be able to hold the level.
The IT sector has been doing good in this market and has seen the second-highest rise since the crash after the Pharma sector.
Since WIPRO is a part of the IT sector, I would have a bullish view on this stock for some time.
WIPRO can come down to test the SWAP zone again but that should be a buying opportunity and we can expect more run-up in this stock over the next few days.
In terms of day trading, once the pullback is over, then buying dips would be a good strategy.
On the bearish side, if the overall market turns bearish due to some reason, then I would not prefer to be on the buy-side of any stock.
Please choose your trades wisely.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“The trend is your friend until the end when it bends.” - Ed Seykota