Buy Wipro, may test Rs 650: Nooresh Mirani

Nooresh Mirani, AVP Technical of AMSEC Research recommends buying Wipro at current levels as the stock may test Rs 650.

Nooresh Mirani, AVP Technical of AMSEC Research told CNBC-TV18, " Wipro has broken out of a three year high's around Rs 505-520. The stock moved up to Rs 600 and then it is on the re-test of the breakout. So closer to Rs 550-555 is a good entry point with a target price of Rs 650 or higher side in the medium-term. One can buy the stock at current levels, keeping a stoploss at Rs 538 on a closing basis."

" Godrej Industries is on a verge of a major breakout above Rs 308-310. As of now Rs 290-300 is a good entry point with a stop loss at Rs 285 and we could be looking at a medium-term target price of Rs 330-350," he said.

" Tata Chemicals gave a good volume based move after breaking out above Rs 275, went up to Rs 300 and is about to re-test its support zones at Rs 275, so it would be a good entry point on dips at current levels with a stoploss at Rs 265 and a target price of Rs 300-320 in the short-term."

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