Wipro share price to give whopping double-digit returns in 2 weeks! Follow this expert's strategy to benefit
Wipro quarterly results would be either good or bad. In case of bad Q3FY20 results, one should buy Wipro shares above Rs 265 level.
Wipro Q3FY20 results are coming today and the stock market is rife with rumours about the kind of results that will be unveiled. However, according to stock market experts when it comes to Wipro share price, they are on the same page that these would give double-digit return in two weeks, provided share market investors follow the equity investment strategy they are suggesting. They are of the opinion that Wipro Q3FY20 results would be either good or bad and hence a share market investor should have an investment strategy in both conditions.
Speaking on the Wipro share price Rohit Singre, Senior Technical Research Analyst, LKP Securities said, "Wipro shares are facing strong resistance at Rs 260-265 per stock levels. If it fails to break this level then it may go down up to Rs 235 pre stock levels. Much would depend upon the Wipro quarterly results coming today. If the Wipro quarterly results are good as we witnessed in the case of Infosys, then we can see the Wipro share price breaking the Rs 260-265 resistance. Once it sustains above this level, then one can buy Wipro shares above Rs 265 for the target of Rs 285 to Rs 290 per stock levels. In case, the Wipro results are bad, then in that condition, I would suggest share market investors to wait for the correction in Wipro shares and take a buy position at around Rs 235 for the target of Rs 260-265." In both cases, the target would be achieved in one to two weeks, said Singre.
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Asked about the stop-loss that an investor would maintain in both cases of the Wirpo results Singre said that if you are buying Wipro shares above Rs 265, then stop loss would be Rs 250 while buying Wipro stock at Rs 235 levels, then the stop loss would be rs 225 pre stock levels.
Simi Bhaumik, a SEBI registered technical equity analyst said, "Currently, Wipro share is trading in the range of Rs 230 to Rs 265. It is facing strong resistance at Rs 260 and once it clears this level, only then I would advise stock market investors to take a buy position in Wipro shares. Otherwise, I would suggest stock market investors wait for some correction and buy Wipro shares at around Rs 235."