Wipro has been under performing since Jan 2018 while other peers have moved up 20-30%. It is one of the cheapest IT stock. Q4 2018 was bad due to insolvency of 2 of its customer and it had to write off 208 Cr. Growing US economy and Cur ency depreciation will provide tailwind to earnings which will be declared on 20th July.
In last 1-2 weeks stock has recovered after making double bottom with strong volume on both weekly and daily chart. Stock can move upto 299 in next 8 days. MACD and RSI are also showing strong momentum
SL-200EMA close
In last 1-2 weeks stock has recovered after making double bottom with strong volume on both weekly and daily chart. Stock can move upto 299 in next 8 days. MACD and RSI are also showing strong momentum
SL-200EMA close
Trade closed manually:
Stock in consolidation phase. Q1 result not exciting