As per the last 5 days candlestick chart seems bullish trend reversal occurred in the stock Wipro. On 12-1-12 this stock was opened in gap down and traded narrow level all around the day. From 13 Jan to now this stock is gaining price sharply and volume also significantly high. Yesterday 17 Jan this stock touch high of 419 in intraday trade. However today this stock fell down and trading around 405 level.
Four days before candle seems like abandoned baby. It was not exactly abandoned baby. But it seems somewhat like that candle. Last three days candle is Bullish three white soldiers. This three white soldiers is strong bullish reversal signal. We are expecting quarterly results for this stock in coming days.
We are expecting some bullish uptrend in this stock above the price 415. We recommend to buy above this level by keeping stop loss as 398. Profit may be booked 5% above the buying price. Please read our Disclaimer before investing.