Pritesh Mehta of IIFL advises holding Wipro as the stock may go up to Rs 550-555 levels.
Pritesh Mehta of IIFL told CNBC-TV18, "IT index deserves a bit of attention. We are talking about an index which has been in a structured bull run since 2009. So, this 20-25 percent drop from these all-time high levels should not be a big concern for us because on the weekly chart the IT has seen a breakout in July 2013 thereafter it attempted levels of 10000 and from thereon it has retraced 61.8 percent of its earlier upmove."
He further added, "I feel that the index is trying to take support around the levels of 6800-6700. The selling pressure is getting exhausted around these levels. It is too early to confirm whether the index has given a reversal or not but the selling pressure could get exhausted."
" Wipro had given a breakout from the rectangle pattern on the weekly charts in August 2013, it is once again coming back to the same breakout level. So, Wipro could find support around Rs 470-475 and one need to hold it. On the upside, Wipro can again get back to the levels of Rs 550-555," Mehta said.
Anda sedang membaca artikel tentang
Hold Wipro, may rally to Rs 550-555: Pritesh Mehta
Dengan url
http://harmonisem.blogspot.com/2014/06/hold-wipro-may-rally-to-rs-550-555.html?m=0
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Hold Wipro, may rally to Rs 550-555: Pritesh Mehta
namun jangan lupa untuk meletakkan link
Hold Wipro, may rally to Rs 550-555: Pritesh Mehta
sebagai sumbernya
0 komentar:
Posting Komentar