Trading strategies in Persistent Systems, Wipro: Mehul Kothari

According to the technical analyst from Anand Rathi, Persistent Systems can advance to Rs 5,250; while Wipro may see faster momentum above Rs 414.

Mehul Kothari Mumbai
Buy, Sell, markets, stocks, shares, investments, mutual funds, investors
Web Exclusive

Persistent Systems
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.

Also Read

Here's why Mehul Kothari recommends to Buy Kothari Sugars, IEX

Mehul Kothari expects a pullback rally in Biocon, Wipro; Here's why

Trading Strategies for Cochin Shipyard, Larsen & Toubro by Mehul Kothari

Mehul Kothari recommends Arvind Fashions, CAMS as top 'Diwali' picks

Mehul Kothari recommends Biocon, Aurobindo Pharma for trading gains

Nandish Shah of HDFC Securities suggests Bull Spread strategy on M&M Fin

Traders can adopt buy-on-dips strategy for Nifty Energy index: Ravi Nathani

Half of Nifty 50 stocks yet to reclaim Budget peaks, breadth stays fragile

Here's why Ravi Nathani is bullish on realty, pharma shares over near-term

DLF, Sunteck Realty: Stay cautious; realty index violates key support level

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).


  • 1D
  • 5D
  • 1M
  • 3M
  • 6M
  • 5Y

First Published: Feb 17 2023 | 8:09 AM IST

Explore News