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Posts Tagged ‘WIPRO Stock’

Bulls defend their positions

Wednesday, August 12, 2009 Leave a comment

Volatility was the only constant in today’s markets. The markets opened down, went further down till 4350 before bulls managed to bring it back to a respectable closing. The final the damage was only about 15 points on the NIFTY with a closing of 4457. It is becoming evident that bulls are doing their best to defend their positions

Does this mean that markets have again turned bullish?

I’d still have my doubts till we make a 100+ point upmove on NIFTY, say tomorrow (May be take cues from US markets that are 1.5% up as of now). 4500-4550 is a range that will invite a lot of selling from the bears again, so it might make sense to be cautious and book partial profits around this area. Take fresh positions only if markets make a convincing move upwards without much intraday volatility.

As far as individual stocks are concerned, I’d stick with the stocks that are in a firm uptrend. I’d also use this rally to get rid of junk stocks in my portfolio. I still see a lot of participation in stocks like Suzlon,Unitech and RNRLs of the world. One must understand that these stocks are very vulnerable on the downside. Any hint of correction in the markets will bring them down sharply.

And as always-manage your risk properly. Leveraged positions are not advised in these highly volatile markets. As a trader our job is to pick the right spots to buy and sell rather than try to catch each and every move.

If you are a long term investor, use sharp correction in stocks like Asian Paints, Hero Honda,Wipro,Infosys and Maruti to accumulate. Sticking to large caps might be a better option than small caps. For you 4000 level is the critical level to watch.

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Stock Watch – Idea,Wipro

Friday, July 24, 2009 7 comments

IDEA CELLULAR has just come out with a decent set of results and the stock is looking great in picking upside momentum next week. 83-85 is aminor hurdle for the stock. It is very likely that the stock crosses that and reaches around 100. Below 75 the stock might lose momentum. A good bet in the short term.

Wipro looks another stock that looks decent in the medium term. 500+ might be possible if  market momentum continues.

Please be aware that these stocks can be extremely volatile. So pick them if you have the stomach for them.

INFY,Wipro,TCS,Satyam -Current price trend

Monday, July 30, 2007 Leave a comment

INFOSYS– This stock is moving now in the 1900-2050 band. Expect no great movements on either side till this range is broken.

TCS– 1100 and 1050 are some good supports for the stock. You might want to use these levels for some countertrend trades

WIPRO– This has been one of our countertrend trade ideas. This is trading very close its support levels of 485-490 levels.

SATYAM – 440 remains a support while 500-510 remains a resistance. Again stuck in a range.