Buy Wipro; target of 
475: IIFL
Bangalore: IIFL is bullish on Wipro and has recommended buy rating on the stock with a target of 
475. According to IIFL, besides moving in a trading band between 445-370, Wipro has not done anything significant in 2010. But after a long time, the stock made an attempt to cross above the upper end of the trading range this week.
Wipro provides information technology (IT) solutions and services, including systems integration, information systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations. It also provides IT solutions and services for the corporate segment in India, offering system integration, network integration, software solutions and IT services. It operates in four segments: IT Services, IT Products, Consumer Care and Lighting, and Others. On December 9, 2009, it acquired Lornamead FZE and Lornamead Personal Care.
IIFL says, the upward rally of the company's stock was accompanied with a positive crossover in relative strength index (RSI), earmarking inherent strength in the counter. Based on above observations, it is likely that stock continues its uptrend in the short term. With the recommended price of 475, if the stock is bought at Monday's closing price of 444.55, the percentage of gain would be 6.41 percent.
475. According to IIFL, besides moving in a trading band between 445-370, Wipro has not done anything significant in 2010. But after a long time, the stock made an attempt to cross above the upper end of the trading range this week.
Wipro provides information technology (IT) solutions and services, including systems integration, information systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations. It also provides IT solutions and services for the corporate segment in India, offering system integration, network integration, software solutions and IT services. It operates in four segments: IT Services, IT Products, Consumer Care and Lighting, and Others. On December 9, 2009, it acquired Lornamead FZE and Lornamead Personal Care.
IIFL says, the upward rally of the company's stock was accompanied with a positive crossover in relative strength index (RSI), earmarking inherent strength in the counter. Based on above observations, it is likely that stock continues its uptrend in the short term. With the recommended price of 475, if the stock is bought at Monday's closing price of 444.55, the percentage of gain would be 6.41 percent.