Wipro can touch Rs 260: N Pillai

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Wipro can touch Rs 260: N Pillai

Neppolian Pillai of Modern Shares & Stock Brokers is of the view that Wipro can touch Rs 26. For Satyam any close below Rs 220 is going to become weaker more. Rolta any close below Rs 120 is going to become weak.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Wipro recovers sharply ALSO READ See previous views by Neppolian Pillai See what other Experts & Brokerages are saying about Wipro See messages about Wipro Wipro BSE | NSE 28/05/12 Are Mutual Funds betting on Wipro?

Neppolian Pillai of Modern Shares & Stock Brokers is of the view that Wipro can touch Rs 26.

Pillai told CNBC-TV18, "For Satyam any close below Rs 220 I think its going to become weaker more. Rolta any close below Rs 120 is going to become weak and HCL technologies any close below Rs 109, so they are all at their crucial level. If it breaks through them on the downside then I think they have considerable pain left below that but as a trader, if you are a brave trader you can probably put on a buy trade with many minimal stoploss because all are major crucial levels."

He further added, "The only stock which is looking good in terms of technical strength would be Wipro. It doesn't go below Rs 210-215 very easily, on the upside I think it can go up to Rs 260. So within the sector there are certain smaller stocks and there are some weaker stocks, but more weak as of now. Having said that one can put on a buy trade with a very strict minimal stoploss as of now."