Stock Radar: Wipro hits a fresh record high in December; will the party continue in 2025?

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Wipro is a long-term play, but short-to-medium-term traders can also look to buy the stock for a target of Rs 330 in the next 3-4 weeks, suggested experts.

Synopsis

The largecap IT stock gained momentum last week after over four months of consolidation. After hitting a swing high of Rs 290 in July 2024, it found support above the 100-DMA in August and rebounded. Breaking past its July high in December, the stock hit a record Rs 310 on December 10, 2024, with the 21-DMA serving as key support, signalling potential for further gains.

IT major Wipro Ltd rallied over 20% in the last 3 months to hit a fresh record high in December and the chart pattern suggests that the rally is likely to continue in 2025 as well.Wipro is a long-term play, but short-to-medium-term traders can also look to buy the stock for a target of Rs 330 in the next 3-4 weeks, suggested experts. The largecap IT stock picked up pace last week after consolidating for over 4 months. It hit a swing high of Rs

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ETMarkets.com

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