A few weeks back I had analysed the Rupee-Dollar Chart and anticipated a move from Rs 39.75 to the technical target of 41.80. The price target has been well surpassed.
At that time I had also mentioned that technology counters are likely to outperform the Sensex / other stocks. I presume that has happened. While majority of the other index heavyweights are far away from their highs, technology counters like Infosys , Satyam and Wipro are in an uptrend. Satyam in fact is near it's 52 week HIGH.
For my regular subscribers I had indicated a buy on Wipro at Rs 450/- (notice the Inverse Head and Shoulder Formation). It has since risen to Rs 515/-. Moreover it has taken good support at the 200 DMA which is a positive sign.
I presume it is changing it's trend to UP. Expect some more upward movements in the stock (along with those in other technology counters)
Happy trading
CA Rajiv D Khatlawala
No comments:
Post a Comment