Wipro:Sustaining Below 540-515 May Fall Up To 470-430; Both Q1 Result & Guidance Way Below Mkt Estimates

Trading Idea: Wipro

CMP: 549

Either sell below 540 OR on rise around 570-580 

TGT: 525*-515-505*-498-485-470*-455-430 (1-3M)

TSL> 555 OR > 590

Note: Consecutive closing (3 days) above 590 for any reason, Wipro may further rally up to 605-615-630* & 655-680*-700 in the near to long term (alternative bullish case scenario from the current trading level).

For Wipro (Consolidated):

Q1FY17 EPS: 8.30 (QOQ: 9.08; YOY: 8.89)

Q1FY17 TTM EPS: 35.53

FY-16 EPS: 36.12

Projected FY-17 EPS: 38.50

Average PE: 15 (May be downgraded to 13-12 level)

Current fair value may be around: 530 (Q1FY17/TTM)

Projected fair value might be around: 580 (FY-17/FWD)

Analytical Charts:

Article Courtesy: Frontiza.com