IT sector has been under performing from the last few months and the Nifty IT index has taken a major support in the range of 26300-26400.
A similar pattern has formed in Wipro which has taken it's previous major support at the levels of 400.
Since Wipro has corrected more than 40% from it's ATH, there is a high probability of sharp up move once recovery starts in IT sector.
A positional trade can be taken in Wipro with the targets mentioned in chart.
Please perform your due diligence before taking a trade and share your views in comments.
Follow for regular trade ideas. Happy Trading:)
A similar pattern has formed in Wipro which has taken it's previous major support at the levels of 400.
Since Wipro has corrected more than 40% from it's ATH, there is a high probability of sharp up move once recovery starts in IT sector.
A positional trade can be taken in Wipro with the targets mentioned in chart.
Please perform your due diligence before taking a trade and share your views in comments.
Follow for regular trade ideas. Happy Trading:)