Mar 28, 2013 07:22 PM IST | Source: CNBC-TV18

Buy Wipro; target of Rs 450: Parag Doctor

Parag Doctor, Head - Trading Strategies, Keynote Capital's is of the view that traders can buy Wipro with a target of Rs 440-450.

Parag Doctor, Head - Trading Strategies, Keynote Capital's is of the view that traders can buy Wipro with a target of Rs 440-450.

 

Doctor told CNBC-TV18, “I would advice to hold on to Wipro. We have a trading buy on Wipro right now with a stop loss of about Rs 415 and immediate target of Rs 440-450 or so. We expect the de-merger of the consumer business to play out in the next month or so and that would be a benefit for the shareholder. The IT sector has been outperforming so Wipro has been laggard somewhat so once this de-merger is out of the way we expect that Wipro should head towards Rs 500 in the medium-term. So, it is a definite portfolio pick and the support levels on the downside are around the Rs 385-400 zone and as long as that is intact it is a good buy.”

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