Sector view: The information technology (I.T) sector is gathering strength to rise higher.
Stock view: For the past couple of trading sessions, we have seen that Wipro has been on an upward move and has touched the recent 52-week high of 568.
Bull Call Spread: A bull call spread is created when a stock is expected to move in an upward direction.
Strategy note: The strategy has an initial outflow of 4.00 points in Wipro, which amounts to Rs2,000 (4.00*500).