Wipro can touch Rs 390: Hemant Thukral

Wipro can touch Rs 390, says Hemant Thukral of Aditya Birla Money.

Thukral told CNBC-TV18, "Basically why I have selected Wipro is because IT as a sector is showing good rollovers, both TCS and Infosys are showing rollovers with an improved cost, obviously TCS looking the best bet currently. But Wipro has seen a surprise jump in rollovers this time."
He further added, "In Wipro the rollovers have already crossed 67% whereas six months average is only 51 and rollover cost is very positive. So once Wipro crosses that and stabilizes above Rs 365, we are looking at a target of Rs 390 on it. Traders should keep a tight stoploss of around Rs 335-340 where it has formed a strong support base now. So I would be going long in Wipro for the September series."