WIPRO LTD - www.ashudutt.com

WIPRO - SHORT TERM: WEAK, LONG TERM: WEAK, PREVAILING BIAS:STRONG


I did not like the chart patterns on Wipro today. They were almost identical to Infosys. That would indicate a fund (or funds) are selling out of technology or Wipro and Infosys. If thats the case, the stock's headed for 400. And thats the risk. Once it falls below 400, its anybody's guess how low it goes. And its falling on falling volumes which means any big order will find it difficult to get absorbed. Only if it crosses 500 on strong volumes will I find an uptrend to trade on

http://www.ashudutt.com/