Moneycontrol Contributor
January 21, 2019 / 11:44 IST
1977 – The name was changed to Wipro Products Ltd from Western India Vegetable Products Ltd as the young Premji expands its business.
Manali Bhatia
Wipro has been trading in a range since 2014 and has recently given a breakout. Monthly RSI has started trading in a bullish zone for the first time after 2015.
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On the daily chart, a long bullish candle has formed after a phase of consolidation and prices are tagging above upper Bollinger Band. Momentum indicators are suggesting that upward movement is likely to continue. Thus, the stock can be bought at CMP and on any dip till Rs 325 for medium-term gain.
The author is Senior Research Analyst at Rudra Shares and Stock Brokers.Disclosure: Rudra or its research analysts, or his/her relative or associate do not have any direct or indirect financial interest nor any other material conflict of interest at the time of stock recommendation, in the subject company. Also, Rudra or its research analysts, or his/her relative or associates does not have actual/beneficial ownership of one percent or more securities of the subject company. Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on Moneycontrol are their own, and not that of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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