WIPRO LTDLong
WIPRO Longterm view
Updated
Excellent chart pattern..
1. Made high in year 2000 -- 350.
2. Traded in a channel for a long time and broke out of 350 resistance.
3. Made high of 700 -- Exact 2x.
4. Dropped back only to get support at exact 350.
Bullish engulfing on Monthly time frame
Risk: Reward a mouth watering 1:8
WIPRO announced Shares buyback.
1. Made high in year 2000 -- 350.
2. Traded in a channel for a long time and broke out of 350 resistance.
3. Made high of 700 -- Exact 2x.
4. Dropped back only to get support at exact 350.
Bullish engulfing on Monthly time frame
Risk: Reward a mouth watering 1:8
WIPRO announced Shares buyback.
Trade active
This is a long term stock. It may take lot of time to reach target.. But high conviction in this.Note
Stock moving as expected.. Need lot of patience in this counter.Note
SL moved to 400.
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