labelMaxWidth defines the maximum width of labels after which they get wrapped or clipped depending on labelWrap’s value. It overrides the labelMaxWidth value set at axis level.
Default: Automatically calculated based on the length of label.var  chart =  new  CanvasJS.Chart("container",
{
 .
 .
 axisY:{
	stripLines: [
		{
		 labelWrap: true  // change to false
		 labelMaxWidth: 50
			
		}
	]
   },
 .
 . 
});
chart.render();
Also See: