Excellent Buying opportunity for a swing trade in Wipro.
Reasons -
1) Rsi Taking support at 40. (Those who follow Unconventional RSI of 60/40 can understand this) Weekly and Monthly Rsi above 60.
2) Making a Hammer candle on the daily chart can be a reversal sign.
3) Stock at strong Support level CIP at 527.
4) Buying only if on Monday stock opens above 531. SL will be 527 on a closing basis. Targets will be 550 and 560 for swing.
( Good Risk to rewarded trade with very small SL can be good profitable trade)
5) Grandfather / Father / Son strategy. Based on RSI and swing
6) Results are going to be on the positive sign for this quarter.
Share your thoughts in the comments to know more about CIP/ RSI strategy and if any doubts.