16 Jul 2018 | 2:20 AM
Research Report

Equity Research Report: Master Pick

Wipro reported 30% rise in its consolidated net profit of Rs 2118 crore in the quarter ended June 30, 2014 while the revenues increased 14% to Rs 11,136 crore on YoY basis. The company provided a stronger guidance for its IT services business on the back of healthy order book and demand from key geographies. For the quarter ending September 30, 2014 (Q2 of FY15), the company said it expects IT services revenues to be in the range of $1.77 billion to $1.81 billion, implying a growth of 1.7% to 4%, on a sequential basis. This is amongst the best guidance by the company in several quarters.
29 Aug 2014 | 08:00 AM

The IT counters are performing well these days and most of IT majors are trading near to their 52 weeks high zone indicating strength.

Unlike others, Wipro was consolidating in a range of 530-560 levels for nearly eight weeks and finally witnessed upside breakout from the same recently.

Its overall chart formation on multiple time frames alongside with confirmation indicators are pointing toward the possibility of strong up move in near future. So, one should utilize this opportunity to initiate long positions between 558-CMP (565.25) with closing below stop loss of 540 level for the target of 615 level.