Buy Near: Rs 4,900
Target: Rs 5,250
Stop Loss: RS 4,700
The stock has been one of the strongest outperformer from the software space. In today's session; the stock confirmed a fresh breakout and that too at all-time high. This indicates continuation of uptrend.
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Thus, we advise traders to go long in the stock near Rs 4,900 with a stop loss of Rs 4,700.
Buy Above: Rs 414
Target: Rs 444
Stop Loss: Rs 399
Recently; many of the IT stocks like TECHM, MPHASIS and many others witnessed decent buying traction. However, WIPRO maintained its consolidation within the range of Rs 414 – Rs 400.
At this point in time, the stock is on the verge of a breakout from this range. We expect faster momentum above Rs 414.
Thus, we advise traders to go long in the stock near Rs 108 with a stop loss of Rs 102.
(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).