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affluenttrading
Jan 14, 2022 7:09 AM

Buy Idea for WIPRO Long

WIPRO LTDNSE

Description

I do not like writing beautiful stories and convincing you to like my idea. I'll just give you the reasons which makes me feel, WIPRO can be a good buy. Use your own analysis for execution.

Reasons to Buy:
1) Price reaching for the previous accumulation level.
2) Fundamental reason for demand as the company will distribute dividends.
3) IT sector has a tendency to rally during Mid and later half of January.
4) There are gaps to fill above.

Entry tips:
1) Consider Lower timeframe confirmations.
2) Time is a important factor, Look for buys before 18th January 2022.

Profits targets:

33% of trade @ the vacuum area.
45% of trade @ Rs 700 or on the ex dividend day
Remaining portion should be exited at new high or Rs 680.
Comments
VivekGolchha
It's quite difficult to say because despite all the reasons the IT index has been in a downward channel and probably has given a false breakout....

So on a short term basis I shall disagree with you on this....
eswaramoorthi449
will consolidate at that level for sometime
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