Wipro has been on a bull run since the last two months, however the stock is now retracing for the last couple of weeks. The stock is now at a 50 MA position and it seems to be respecting the 50 MA for a long time. The RSI is in the oversold zone and MACD has started fading its negative momentum. The stock is taking support at 23% retracement.
Expecting the continuation of bull run in the coming days.
Idea - Positional
CMP- 526
Target - Next 50 MA crossover
SL - 513
Sharing for educational purpose only.
Expecting the continuation of bull run in the coming days.
Idea - Positional
CMP- 526
Target - Next 50 MA crossover
SL - 513
Sharing for educational purpose only.
Comment:
The price made a steep upside and is now testing the previous all time high. If the price succeeds to stay above, further upside can be seen in this stock