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[hfe_template id='11223'] [ad_1] 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 ...

[hfe_template id='11223'] [ad_1] Short-term traders can look to buy the stock for a target of Rs 630-640 in the next 1-2 months, suggested experts. Synopsis The IT stock reached a peak of ₹580 in July 2024 but lost momentum, gradually declining toward its 21-week moving average on the weekly charts. This average has served as a key support level for the stock since August 2024. The renewed momentum pushed the stock to a high of ₹596 on November 27, 2024. By surpassing its July 2024 swing high in November, Wipro's stock has created an opportunity to advance further, potentially retesting the ₹600 level and beyond. Wipro Ltd witnessed a breakout after consolidating for almost 4 months to hit a fresh 52-week high in November, which has opened room for the stock to head higher.Short-term traders can look to buy the stock for a target of Rs 630-640 in the next 1-2 months, suggested experts.The IT stock hit a high of Rs 580 in July 2024 but failed to hold the momentum and ...

[hfe_template id='11223'] [ad_1] Short-to-medium-term investors can look to buy the stock now for a target of Rs 650 in the next 2-3 months, suggested experts. Synopsis The IT stock climbed from Rs 381 on November 13, 2023, to Rs 570 on November 12, 2024, marking a 49.6% gain over the year. Riding this momentum, Wipro reached a 52-week high of Rs 583 on November 11, 2024. After testing the 100-DMA in August, the stock rebounded steadily, trading within an Ascending Channel pattern. IT major Wipro has been trading in an Ascending Channel line since August 2024 and the momentum helped the stock hit a fresh 52-week high in November, which suggests that bulls are here to stay.Short-to-medium-term investors can look to buy the stock now for a target of Rs 650 in the next 2-3 months, suggested experts.The IT stock rose from Rs 381 recorded on November 13, 2023, to Rs 570 on November 12, 2024, which translates into an upside of BY ETMarkets.com Nov 14, 2024, 10:01:00 AM IST Gif...

[hfe_template id='11223'] [ad_1] Shares of Wipro will be in focus on Friday following IT major's July-September quarter earnings where the company reported a 21% jump in net profit to Rs 3,209 crore for the quarter ended September 2024 versus Rs 2,646 crore logged in the year-ago period. The figure was higher than ET Now poll estimates of Rs 3,050 crore. Revenue from operations in the reported quarter stood at Rs 22,302 crore, marginally lower over Rs 22,516 crore posted in the corresponding quarter of the previous financial year. Gross revenue was at Rs 22,300 crore ($2,662.6 million), an increase of 1.5% QoQ and a decrease of 1% YoY. IT services segment revenue was at $2,660.1 million, an increase of 1.3% QoQ and a decrease of 2% YoY. Non-GAAP2 constant currency IT Services segment revenue increased 0.6% QoQ and decreased 2.3% YoY. “We expect revenue from our IT Services business segment to be in the range of $2,607 million to $2,660 million,” Wipro said in a compa...

[hfe_template id='11223'] [ad_1] Traders can wait for a breakout above the 52-week high of 546 before building long positions. A close above 550 will open room for the stock to edge higher. Synopsis Wipro hit an all-time high of Rs 739 on October 14, 2021, but the rally lost steam immediately after. Nearly three years later, it rallied to a 52-week high of Rs 546 on February 19, 2024. Since then, the stock has been facing a price correction. However, it has bounced back after retesting the 200-week Exponential Moving Average on the weekly charts. Wipro Ltd witnessed a V-shaped recovery on weekly charts after bottoming out in June 2024 and is on the verge of a breakout above the February 2024 52-week high.Short-term traders can look to buy the stock post a breakout above 550 for a target of Rs 700-800 levels for the next 4-6 months, suggested experts.Traders can wait for a breakout above the 52-week high of 546 before building long positions. A close above 550 will open r...