Buy Wipro on dips: Sudarshan Sukhani

Buy Wipro on dips, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I am not downbeat on Wipro. If it does go through a dip it is a buying opportunity rather than a sell. It should not be short sold. The CNX-IT Index itself appears to be bottoming out and Wipro can be an underperformer only for a few days. I would say that it is a buy."
He further added, "Cipla went up dramatically yesterday and Divis Lab also. Ranbaxy is not in the same league in the sense that these stocks were moving - Aurobindo Pharma, but they were making new highs. Ranbaxy is clearly not doing that. Ranbaxy seems to have completed a correction on the downside and this is a buy on dips stocks. A buy on dips stock has its own risks, so please use a stop loss. But I think given the conducive market conditions Ranbaxy should see a very decent rally."