Rupak De
Bonanza Portfolio
On the daily chart, the price has surpassed its trendline resistance and witnessed a flag pattern breakout at 323.15. On the weekly chart, "above the stomach" candle stick pattern has formed which suggests the possibility of a bullish reversal.
Moreover, the price is trading above its 50-EMA which acted as a support in the previous two instances. A bullish crossover in the daily RSI is being witnessed which may induce a positive shift in bullish momentum in the stock price.
Traders can accumulate Wipro in the range of Rs 320-326 for the target of Rs 349 and a stop loss below Rs 308.
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