Python: Word guess

# This is used to choose a word among the list.
import random

words = ['V1Study','academy','coding','python','student']

word = random.choice(words) # Here we are using the choice() function
# among random module to choose a word from words

name = input("Please enter the player's name ? ")

guessedLetters = '' # We are defining the variable here with string. 

# any number of chance can be used here
chance = 10

print("Okay ! Let's start guessing. ")

while chance > 0:
    # This will start taking the letters for checking. 
    guess = input("Guess a letter of the word: ")

    # in guessedLetters we will keep all the letter which we have inserted. 
    guessedLetters += guess

    # checks if the user is all wrong or correct. 
    wrong = 0

    # in word all the letters will be checked one by one using loop
    for letter in word:
        # if letter which user has inserted is in it then print it. 
        if letter in guessedLetters:
            print(letter)

        else:
            print("_")
            wrong = 1

    # if wrong is zero then it means all the words matched. 
    if wrong == 0:

        print("Congratulations! ",name,"You guessed all the letters correct.")

        print("The word is: ", word)
        break

    # if the letter which we guessed is not in word 
    if guess not in word:

        chance -= 1 # no of chances will be decreased by 1

        print("Wrong guess. This letter is not in word.")

        # We explained more chances user can try. 
        print("You have", chance , 'more guess chances. ')

        # If chances are zero we'll print you loose. 
        if chance == 0:
            print("Sorry! Your number of chances are over. You loose.")