Technical Outlook & Trading Strategy:-
The most important observation to be made on the charts of Wipro is the positive divergence displayed by indicators.
They signal that the declining movement of the price could have lost force and in all likelihood give some kind of a bounce back.
The share price has also closed above its short term moving averages. In the short term we expect the share price to head towards the target of Rs 370- Rs 375 levels.
We recommend buy at current levels and again on pullback to the level of Rs 345- Rs 342 with a stoploss placed below Rs 335.80.
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