ICICIdirect.com is bullish on Wipro and has recommended buy rating on the stock with a target of Rs 495 in its January 15, 2013 research report.
“Wipro, cash volume, delivery and futures open interest (OI) are regarded as the foundation blocks for a stock to show price movement in the short-term. Based on the study, the IT space has been identified as the sector where stocks are likely to attract buying interest, even if markets continue to consolidate. We have identified the stock Wipro. The stock has seen a strong pick-up in delivery in the 350-370 range. With the strong set of numbers from technology giant, Infosys, positional stock traders have started to come out of their short positions. Both these triggers bode well for the stock’s upside. Thus, we recommend buying Wipro in the cash segment,” says ICICIdirect.com research report.
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