Exit Wipro on rally: Doctor

Parag Doctor, Head - Trading Strategies, Keynote Capital's is of the view that one should exit Wipro on rally and can enter at lower level around Rs 340-350.

Doctor told CNBC-TV18, “Wipro has been an underperformer in the IT space. Technically after it broke Rs 385 levels that is the 200-day moving average there has been further weakness. You must remember that this stock is trading ex after the demerger of its consumer business. So there has been an adjustment for that and there has been fresh selling after that event. So we would be bearish on the stock till we do not get back above Rs 385-390 level which I talked about. If the rally happens into that level one should be exit position and lower levels around Rs 350-340 would be where an entry can be made again.”