Wipro share price: Stock market experts expect 5% returns in one month
Wipro share price: Stock market experts are of the opinion that post-robust Q1FY20 results of Infosys, Wipro too is expected to give promising results.
Wipro share price: Stock market experts are of the opinion that post-robust Q1FY20 results of Infosys, Wipro too is expected to give promising quarterly results - the IT company is expected to give strong commentary, guidance and positive future outlook for its business. According to share market experts, Wipro share price is expected to give around 5 per cent returns in short-term perspective means in around one month. Currently, Wipro share price is at Rs 260 per stocks and has strong support at Rs 253 per stocks.
Speaking on the triggers that can push the bull run in Wipro stocks Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, "Fundamentals of the Wipro stocks are promising and its quarterly results would be the major trigger, especially post-Wipro AGM meeting that has happened today. The stock has strong support at Rs 253 and can show Rs 275 in two to three weeks. My advice to the stock market investor is to take a buy position in the stock at current levels taking stop loss below Rs 253 and book profit once the counter reaches Rs 275 levels."
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However, Prakash Pandey, Head of Research at Fairwealth Securities had a different strategy for the stock market investors. He said that Wipro stock is set to be bullish once it makes a breakout of Rs 265 and sustains above these levels. "My suggestion to the share market investors is to wait for a while and take a buy position once it sustains above Rs 265 per stock levels for the target of Rs 280 in short-term. But, an investor must maintain a stop loss at Rs 256 in that case."
So, in both strategy, an investor can expect to book around 5 per cent profit in a month.