Wipro after very good bounce in last few days trading session, has now entered its resistance zone which is confirmed by 100 EMA (Exponential moving average) and 23.6% Fibonacci retracement level. So this level (411 level) can act as very strong resistance for this stock and we may see the stock to move lower towards 400 and then 395 levels. Traders can take advantage of this move by going short ... [Continue Reading]
Wipro Q1 Results Declared for FY12 Net Profit Down by 2.9%, Sell Wipro Stock
India's third largest software exporter, Wipro Ltd. has declared its first quarter Q1 results today, with a decline of 2.9% in its net profit to Rs.1,335 crore versus Rs.1,375 crore in the previous quarter (QoQ basis). It was also found that EBIT margins for the company were at 21.96% for the first quarter. Consolidated revenues jumped by 3% to Rs.8,564 crore from Rs.8,302.4 crore for the ... [Continue Reading]
Buy Wipro around 492 for target 501
Today's stock recommendation: Buy Wipro @ Rs. 492 as the stock has shown strong upward momentum yesterday. So target for this position will be at Rs. 501 and then 507. Stop loss should be placed around 486. Note: This stock has given a positive breakout yesterday and looks bullish on daily chart. ... [Continue Reading]
