Go long in Wipro at around Rs 595-600: Vishal Kshatriya

Vishal Kshatriya of Edelweiss Financial Services recommends going long in Wipro at around Rs 595-600 with a target of Rs 640.

Vishal Kshatriya of Edelweiss Financial Services told CNBC-TV18, "Overall IT as a sector has been outperforming the broader markets and Wipro  is a stock where we have seen a good amount of long build up happening in the last series expiry. Last series had also seen a good amount of long rolls happening in this particular stock. Since the beginning of this expiry, we have seen a good amount of long build up happening. Besides, this stock is also trading with a positive bias which is indicated on its daily chart."

"I expect Wipro to move till Rs 630-640 and I am recommending going long at current market price of around Rs 595-600. The target price is Rs 640 and a stoploss can be placed below Rs 580. So again this would be 10-15 days holding period call," he said.

Disclosure: Analyst has no personal holdings in the stock.

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