Wipro, MMTC among top 2 stock ideas for the week from Rupak De

Wipro’s daily chart shows the formation of a symmetrical triangle pattern, accompanied by lower trading volumes, suggesting a potential breakout in the near future, says Rupak De, Senior Technical analyst at LKP Securities. Besides Wipro, MMTC is his other stock idea for this week. Edited excerpts from an interview:

August F&O rollover data shows FIIs decreased their net Long position by 31,000 contracts in August series. Nifty rollovers reduced month-on-month to 78%. What are the targets for the September series given the fact that there’s little bullishness left as far as the headline indices are concerned?