POSITIONAL :
“BUY
WIPRO ABOVE 600 TGT 620/640”
DAILY RESISTANCE: 596, 603, 621,639
DAILY PIVOT POINT: 585
DAILY SUPPORT: 578, 567, 549, 531
DAILY PIVOT POINT: 585
DAILY SUPPORT: 578, 567, 549, 531
Primary trend of the stock is bullish and is consolidating at the higher level after showing correction. It is expected to continue the bull run with the crossing of the resistance level of 603, as the stock is sustaining above its 200 and 50 days moving averages. One may initiate the long position above the mentioned level for the targets of 620/640 and with the strict stop loss of 560.
Moving Average of Wipro Ltd.
Current Share Price
|
584.60
|
Fifty Days
|
555.69
|
Hundred Days
|
580.46
|
Two Hundred Days
|
581.85
|
TODAY RESULT:
Wipro 's first quarter
consolidated profit declined 3.7 percent sequentially to Rs 2,187.7 crore,
impacted by lower other income and higher finance cost. However, the country's
third largest IT company met street expectations on revenue front. Revenue grew
by 3 percent quarter-on-quarter to Rs 11,577 crore and dollar revenue increased
by 0.9 percent to USD 1.79 billion in the quarter ended June.
MARKET SUMMARY FOR 23 JULY 2015
MARKET SUMMARY FOR 23 JULY 2015