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Monday 25 February 2013

Wipro - Ready to move up further


As you would have read in my sector analysis here, IT sector is strong buy in both hourly and daily charts. So I looked for suitable IT stocks to buy. Wipro is one which gives good indications of buy in the charts.

Daily Chart Observations.

1. MACD gave a bullish crossover in daily charts.
2. RSI crossed 50 from below.
3. SSTO is positive with a buy hook in the recent past.
4. Fast Stochastics is moving up, indicating further upmove.
5. Stock rose on higher volumes on Friday.

Buy only above 421-422, which is yesterday's high and also a previous high in daily charts.



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