Wipro a top pick in IT space: Bhamre

Wipro is a top pick in IT space, says Siddharth Bhamre, Angel Broking.

Bhamre told CNBC-TV18, “I am not negative on IT space and now I would include Wipro as one of the top pick, because we had initiated Wipro around Rs 415-420 for a target of Rs 438 and before the results it did quite achieve. Now it has come down. I think around Rs 395 if I get Wipro I think that is one of the good buys.”
He further added, “At the same time Tata Motors around Rs 285-290 we initiated short and we went horribly wrong over there. Rs 295-298 was a stop loss zone for us. We got trigger and since then I have not initiating any call. We are still seeing lot of built up and positive things happening in that counter. But at these higher levels I don’t have guts to go long over there. I would probably wait for a shorting opportunity but I don’t know when.”