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WIPRO LTD.

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WIPRO trade ideas

Wipro's Resilient Performance Signals Industry Rebound In a recent announcement of financial results for the quarter ending December 31, 2023, Wipro Limited showcased a robust performance, defying industry expectations and setting an optimistic tone for the IT services sector. The company reported several key highlights, indicating not only a resilient business model but also a strategic approach that positions it for future growth. Exceeding Expectations: Wipro's revenue from its IT services segment for the quarter reached the top end of its guidance, demonstrating the company's ability to navigate through a seasonally soft period. Despite challenges in the macroeconomic environment, the company reported a 16% operating margin in its IT services business, showcasing efficiency and operational excellence. Strategic Deal Wins: A significant contributor to Wipro's success was the $3.8 billion order booking, comprising 14 large deal wins. The strategic partnerships span various industries, showcasing the company's diversified capabilities. Noteworthy among these wins are collaborations with a US-based health insurance non-profit, a global technology leader, an American Retail Bank, and a Middle Eastern financial regulatory body. These deals underscore Wipro's global reach, technological prowess, and its commitment to providing end-to-end solutions. AI Integration and Innovation: Wipro's CEO and Managing Director, Thierry Delaporte, highlighted the integration of AI across the company's solutions and client offerings. Under the ai360 strategy, AI is now embedded internally across all business and functional areas, aligning with industry trends and positioning Wipro as a technology leader. This forward-looking approach reflects the company's commitment to capitalizing on emerging opportunities as the macro environment improves. Consulting Business Growth: A notable aspect of Wipro's performance was the double-digit growth in order bookings in its Capco business, indicating early signs of a return to growth in consulting services. The company's focus on people, processes, and business operations appears to be paying off, as evidenced by the positive momentum in its consulting business. Financial Rigor and Resilience: Aparna C. Iyer, Wipro's Chief Financial Officer, expressed satisfaction with the company's financial metrics, including revenue, margin, EPS, and cash flow. Despite revenue headwinds and investments for growth and people, Wipro sustained its margins at 16%, showcasing financial discipline and resilience. Industry Insights: Wipro's performance stands out in the context of the challenging macroeconomic environment faced by the IT services industry, particularly in the United States and Europe. While competitors grapple with sluggish demand and reduced discretionary tech spending, Wipro's results offer a ray of hope and suggest potential stabilization in the industry. Outlook for Q1 2024: Looking ahead, Wipro ( NYSE:WIT ) expects its IT services revenue for the quarter ending March 31, 2024, to range between $2.62 billion and $2.67 billion in constant currency terms. This guidance, coupled with the company's track record of exceeding expectations, positions Wipro as a key player to watch in the coming months. In conclusion, Wipro's recent financial results and strategic wins signal a company on the ascent, weathering challenges with resilience and innovation. As the industry looks for signs of recovery, Wipro's performance provides a compelling case for cautious optimism and a potential turning point for the IT services sector.
NYSE:WITLong
by DEXWireNews
1
Bulls for Wipro?!Like anything in the market timing is everything. Being a sniper with execution is essential and knowing when to enter a trade is important. Here are my thoughts on this trade idea... Fundamnetals: Highest Daily gainer on Friday with trading volume around 15.245M and usually its at 1.779M That's a lot of momentum and the next quarter point is the next logical resistance it will meet which is $745.00 Chart Pattern: Bullish Pennant pattern Indicator: Hidden Bullish Divergence
NSE:WIPROLong
by OnenessTrader
WIPRO S/R for 26/12/23Support and Resistance Levels: Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively. Support: The green line and green shade represent support levels. These levels are where the price tends to find buying interest, preventing it from falling further. Traders can consider these levels as potential buying opportunities. Resistance: The red line and red shade represent resistance levels. These levels are where the price tends to encounter selling pressure, preventing it from rising further. Traders can consider these levels as potential selling opportunities. Breakouts: If the price breaks above the resistance zone (red shade) convincingly, it may indicate a bullish breakout, and the price could move higher to the next resistance level. On the other hand, if the price breaks below the support zone (green shade) convincingly, it may indicate a bearish breakout, and the price could move lower to the next support level. Keltner Channel: The Keltner Channel is a technical indicator that uses an exponential moving average (EMA) to create an upper and lower channel around the price action. Traders can use this channel to identify potential long and short positions. Long Position: If the price is above the upper line of the Keltner Channel, it may indicate a potential long opportunity, as it suggests the price is trading above the average range and might continue in an upward trend. Short Position: If the price is below the lower line of the Keltner Channel, it may indicate a potential short opportunity, as it suggests the price is trading below the average range and might continue in a downward trend. Disclosure: I am not SEBI registered. I just wanted to let you know that the information provided here is for learning purposes only. Please consult your financial advisor before making any decisions. Tweets neither advice nor endorsement.
NSE:WIPRO
by zenthosh
Techno-Funda Chart of the week. WiproThis chart came to my attention when it gave breakout of the downward channel at 400. Last week, however, it has given a inverted head and shoulders breakout on its weekly chart with very good volumes. Wipro is India's one of best large cap IT and consumer products company with extremally good tract record of financials as well as management. Investors should have these fundamentally strong stocks in their portfolio. Considering its all time high of 718, this stock is getting at 55% discount and Investor's should not miss this wealth creating opportunity. A new entrant should either keep no stoploss or very deep stoploss for this trade as there are clear indications on the chart of trend reversal. CMP - 462 (24/12/23) T - 600
NSE:WIPROLong
by AbNamjoshi
$WIT Poised for Continual GrowthAn approximate horizontal trend channel in the medium long term is broken up. Continued strong development is indicated, and the stock now meets support on possible reactions down towards the trend lines. The price has also broken the resistance at 5.34 of a rectangle pattern, which signals a further rise. The stock has broken up through resistance at dollar 5.30. This predicts a further rise. NYSE:WIT stock has strong positive momentum in the short term. Investors have steadily paid more to buy the stock, which indicates increasing optimism and that the price will continue to rise.
NYSE:WITLong
by DEXWireNews
WIPRO BREAKOUTHi all, After two years of down fall and one year of consolidation, now wipro gave very good breakout with good volume, I’ll consider wipro for long term and my first target is above 600 level. Having patience to hold till the price hit 720. Recent US interest cut news also in favour for Indian IT sector and wipro is one the favourite pick of mine.Expecting a 2x return in less than a year. Iam not a SEBI registered advisor, do your own analysis, iam just sharing my ideas only for educational purpose.
NSE:WIPROLong
by Ragulgandhi