Bears are Losing Control Over Wipro Limited (WIT), Here's Why It's a 'Buy' Now

A downtrend has been apparent in Wipro Limited (WIT) lately. While the stock has lost 5.2% over the past four weeks, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future e ...