Go long in Wipro, says Amit Harchekar

Amit Harchekar – chief technical strategist at A PLUS Analytics told CNBC-TV18, "There is a strong breakout which has happened in BSE IT index and for Wipro there is a good breakout which is seen from a bullish flag pattern in American depositary receipt (ADR) chart. So we are expecting that this should transform into an upside of 9-12 percent from these levels."

"We are expecting a target somewhere between Rs 655-660 in Wipro. The stock has already built a strong base around Rs 575-580 zone. So with stoploss of Rs 567, we are recommending long strategy at this point for a target of Rs 640 in the coming days," he said.

Disclosure: Analyst has recommended some of the strategies to his clients but has no personal holdings.