Wipro surges to all-time high

Author: Valarmurugan
Published Date: April 27, 2019

Wipro surges to all-time high

  • Wipro share prices were trading all time high and broken the structural resistance zone on 24th April. While the price action has continued to trade in a positive trajectory, despite weak market breadth. 
  • Even though the stock has witnessed a high-volume breakdown on 8th march, the stock has managed to filled the breakdown gap in a short span of time and it as resumed the primary trend.

  • High volume engulfing appeared on 16th April, but the stock has failed to sustained the seller’s strength as bulls were able to absorb the selling pressure with ease.
  • Strong support is seen around 250 level. On the indicator front, the stock is well placed above its 21-days moving average. Sector trend is also positive in recent days.

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