Sunday, December 20, 2009

WIPRO - Marching ahead with self strength.

The stock which keeps marching come what may is seen in this chart. Some theoratical points to consider on chart are,
1) Dow Theory - Higher tops & Higher bottoms !  Trendline is intact for long now.
2) A breakout is clearly seen on the upside.
3) MACD & RSI are both positive.
4) Huge increased volumes
5) IT sector seems to be strong.
I am of the view that one can buy WIPRO for a period of 2 months at current price - 674, SL-652, T-780.
Risk/Return is coming to an attractive - 1:5
Enjoy making money,

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