Shares of Wipro Receive a Boost, Up 2.2%

Published on Tue, 03/05/2013 - 11:26
By Mallory Stone in Market movers, WIT, market movers, nyse:wit, wipro

Wipro (NYSE:WIT) is one of today's biggest movers, up 2.2% to $9.82. The S&P is currently trading 1.1% higher to 1,542 and the Dow Jones Industrial Average is trading 1.1% higher to 14,283.

Based on a current price of $9.82, Wipro is currently 18.8% above its average consensus analyst price target of $7.97. Wipro shares have support at the 50-day moving average (MA) of $9.28 and additional support at the 200-day MA of $8.67.

In the past 52 weeks, Wipro share prices have been bracketed by a low of $7.56 and a high of $11.28 and are now at $9.82, 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

Wipro Limited specializes in IT and computer related technologies. The Group's services encompass a number of areas, including software architecture, business intelligence systems, e-commerce, data warehousing, Internet access devices, network management, system administration, messaging systems, IT consulting and design. Wipro also has a presence in niche markets of consumer products.

By Mallory Stone
mstone@fnno.com

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