Wipro can slip to Rs 438-426: Thacker

Wipro can slip to Rs 438-426, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "There was negative price gap been formed, the Wipro opened with a gap down and we saw some kind of sell signals emerging on charts. My belief is that the corrective movement, which is started, could take the stock price to levels of about Rs 438 or even Rs 426 and this stock can be shorted with a stop loss of above Rs 470." The company's trailing 12-month (TTM) EPS was at Rs 19.37 per share. (Sep, 2010). The stock's price-to-earnings (P/E) ratio was 23.54. The latest book value of the company is Rs 71.02 per share. At current value, the price-to-book value of the company was 6.42. The dividend yield of the company was 1.32%.