The wipro’s Q2 profit is also good and is also increased from the previous profit of Q1.
Also the company’s board of directors approved the shares buy back while will cost them rs 9500 cr… And the promoters will also participate in this buy back of shares… As the buy back of shares is happening its means promoters have a good faith in the companies comming profit…right…
And also a good estimated profit growth for Q3 is given…
All this are positive news…
Then why the share price of wipro fall by more than 5% as of 14 oct.
Can any one explain me why this happened…
I always appreciate replies.
simple pump n dump cartel , news is good for investors not traders, from Thursday cartel created long positions and exited today
Stock price movements are based on supply demand and sentiments. If a stock runs way ahead of the news, then it will have to either pause or correct.
Honest reply - No one knows - how the price is going to behave Wipro is one share, today NIFTY moved from lower levels to +150 points and trust me almost everyone was short.
Above is especially true in short term trading like day trading etc.
Just keep on managing risk 2 reward and hopefully you will survive.
because institutions know that people will buy on good news.
They sell to squeeze the bulls out and take their monies.