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.
Comment:
Stock moving as expected.. Need lot of patience in this counter.
Comment:
SL moved to 400.