RIL, IndiGo, Wipro, HDFC Bank: Trading strategies for result-driven stocks

Here are trading strategies for stocks of companies that announced their June 2019 quarter results recently.

Wipro Ltd (WIPRO): The positive trend has changed into a weaker mode as the support of Rs 280 is broken. That said, the stock is currently hovering around its 200 DMA, placed at Rs 264. Going ahead, the stock is likely to trade seidways. One can stay mildly positive considering the said level is seen as a support. The RSI (Relative Strength Index) has made a positive crossover while moving out of the oversold territory, which is a sign of recovery. A failure to hold Rs 250 may push this counter into a bearish phase.