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Wipro Ltd

Discussion in 'Technical Analysis' started by praveenbkec, Dec 6, 2012.

  1. praveenbkec

    praveenbkec Member

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    Hi All,

    Buy @CMP(375-377), Target 395, SL 360, Please share your views.
     
    praveenbkec, Dec 6, 2012
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  2. m_padmakumar

    m_padmakumar Member

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    Wipro is on downward trend. From what I learned, not a buy...

    Thanks
     
    m_padmakumar, Dec 6, 2012
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  3. cbpancha

    cbpancha New Member

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    Yes Padmakumar. Wipro is currently in down trend.
     
    cbpancha, Dec 6, 2012
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  4. praveenbkec

    praveenbkec Member

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    thanks for the reply padmakumar and CHANDRAKANT ... below factors made me to give this call
    1. "W" breakout , second leg is upper than the first.
    2. smaller moving avg is greater than larger moving avg.
    3. there is a resistance at 360.

    if i am wrong please correct me...
     
    praveenbkec, Dec 6, 2012
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  5. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    It was in downtrend but now it is showing trend reversal signal , in aug it made a bottom of 325 then in oct 332 then in nov 354.
    So now it can buy with stop of 353 for the target 395-410-420
     
    sanjay_sansanwal, Dec 7, 2012
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  6. shabbir

    shabbir Administrator Staff Member

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    It was in down trend and shown reversal but the red candles for last few trading session means it would halt at some point and if it is above the SL, it could be a good buy
     
    shabbir, Dec 7, 2012
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  7. yankeedin

    yankeedin Responder

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    wipro will touch 400 soon. can be bought at cmp with sl 355
     
    yankeedin, Dec 16, 2012
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  8. shabbir

    shabbir Administrator Staff Member

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    yes 355 could be better choice of SL
     
    shabbir, Dec 17, 2012
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  9. praveenbkec

    praveenbkec Member

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    Target 395 is already reached...waiting for 410...i am observing from last 1 week, it is not at all crossing 398...shabbir whether to hold or exit?
     
    praveenbkec, Jan 3, 2013
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  10. shabbir

    shabbir Administrator Staff Member

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    Praveen, 400 is a resistance levels but you can hold with a trailing stop loss because once it crosses 400, I see really good potential upside and with an break out round the corner, its worth the risk.
     
    shabbir, Jan 3, 2013
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  11. praveenbkec

    praveenbkec Member

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    thanks shabbir...
     
    praveenbkec, Jan 3, 2013
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  12. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Jan 3, 2013
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