Trading On margin

Wipro, TCS at Tech Mahindra – Experts assign a ‘buy’ tag to these IT stocks



Stocks to buy today: After the strong close of Friday’s weekend trading session on the Indian and US indices, the bulls are expected to come strongly at the stock market’s open on Monday. So, market experts have recommended retail investors look to computer stocks, as these stocks are expected to remain the bulls’ favorites for one to two years. They said if someone is eager to add stocks to their portfolio today, then they can look at TCS, Wipro, and Tech Mahindra stocks and maximize their long-term earnings.

Speaking on the reasons to buy IT stocks, Tirthankar Das, Technical Research Manager at Ashika Stock Broking, said, “The Nifty IT Index is moving in a strong uptrend making an upper and lower formation higher. after breaking through its previous high and trading above the breakout level of the upside. channel on the monthly chart. It is now around its all-time high with the RSI oscillator also showing strength on a weekly and monthly scale which certainly bodes well for the bulls. The IT space continues to outperform with most stocks placed at their 52 week high with a 14 period weekly RSI in an uptrend and we see it rebounding taking support from its average thus validating the positive bias. “

Highlighting the fundamentals supporting IT stocks in upcoming trading sessions, Jitesh Ranawat, Head of Institutional Sales at Marwadi Shares and Finance, said: “The IT sector has been the barometer of Indian stock markets and has performed very well over the course of the year. of the past year through digitization. This has resulted in a strong transaction dynamic and significant transaction bookings for the major IT players. Positive feedback from players in terms of margin growth and CC (constant currency) has led to the expansion of the PE of all companies and currently most of them are trading at valuations. which are above historical 10-year averages showing higher growth expectations. In addition, given that the sector is rich in liquidity, we recommend looking to buy them in the event of a downturn, as the outlook for the next 2 years looks good thanks to stronger growth supported by big business. is a winner. “

When asked what stocks to buy today when the market opens today, experts recommended Wipro, TCS and Tech Mahindra stocks.

Wipro Share Price Outlook

Speaking on the Wipro share price target, Ashika Stock Broking’s Tirthankar Das said: “Wipro shares take support at 23.6% of the retracement of the recent bullish move and the previous breakout zone. signaling new upward momentum in the coming sessions. ₹520 to ₹525 for the target of ₹585 by maintaining the stop loss at ₹487. “

However, Sandep Matta, founder of TRADEIT Investment Advisors, said the stock is a portfolio stock and one can buy the meter for a long-term view. ₹900 target in the next two years.

TCS share price prediction

On why one should buy TCS shares today, Tirthankar Das said: “In a structural uptrend forming a higher peak and a higher trough in all time frames. This recently generated a breakout above of the six-month range facing resistance several times. “

Predicting a near-term rise in the computer meter, Tirthankar Das said that one can buy TCS shares in the range of ₹3250 to 3270 rs for the target of ₹3675 by maintaining the stop loss at ₹3120.

Regarding the long term TCS share price target, Sandep Matta of TRADEIT said: “TCS is a portfolio share and you have to buy the meter for a long term time horizon because the meter can go ₹4800 in the next two years. “

Tech Mahindra Share Price Forecast

Speaking on the Tech Mahindra share price target and the reason that is fueling this particular action in upcoming trading sessions, Sandep Matta said, “This meter will become one of the main beneficiaries of the 5G rollout. So the action should remain strong from the fundamental perspective and therefore in the next couple of years I expect the counter to rise to ₹2,000 brands. “

Tech Mahindra’s stock price had a closing price of ₹1089.50 at NSE on Friday.

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