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Trading strategies in Persistent Systems, Wipro: Mehul Kothari

According to the technical analyst from Anand Rathi, Persistent Systems can advance to Rs 5,250; while Wipro may see faster momentum above Rs 414.

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Mehul Kothari Mumbai
Persistent Systems
Buy Near: Rs 4,900
Target: Rs 5,250
Stop Loss: RS 4,700 

The stock has been one of the strongest outperformer from the software space. In today's session; the stock confirmed a fresh breakout and that too at all-time high. This indicates continuation of uptrend.

Thus, we advise traders to go long in the stock near Rs 4,900 with a stop loss of Rs 4,700. 

Buy Above: Rs 414
Target: Rs 444
Stop Loss: Rs 399 

Recently; many of the IT stocks like TECHM, MPHASIS and many others witnessed decent buying traction. However, WIPRO maintained its consolidation within the range of Rs 414 – Rs 400.

At this point

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First Published: Feb 17 2023 | 8:09 AM IST

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