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Wipro -- Pocket the profit
K Seshadri
It is time long-term and medium-term investors did one round of profit-booking at the Wipro counter. The scrip had risen from a low of Rs 1,474 to a high of Rs 3,155. The rise from the Rs 2,300 region has been bumpy and marked by profit-booking. The dailys stochastic indicator has signalled a sell. It could come down to the level of Rs 2,870 and later to Rs 2,730, if it fails to find support. For those who keep looking at the upside possibility, know that it has a resistance at Rs 3,384. Despite that it makes much sense for those who entered the counter at Rs 1,500 level to pocket the profit now. And you can enter at Rs 2,725 or if it crosses Rs 3,334 convincingly!Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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