Today we have two major IT stocks to publish their Q1 results. What we are going to do is to analyze the results and find the major levels for intraday trading perspective. When we quickly look in the results we can see a revenue growth in both companies, but the actual case is different here. We will decode them in a simpler way in this blog post.
Quick comparison of Tech Mahindra and Wipro share
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| Quick comparison of Tech Mahindra and Wipro share |
Financial summary of Tech Mahindra and Wipro
Wipro's only 7.8% revenue growth, PAT Declined 22.5%, Profit After Tax dropped from ₹3,696 Cr to ₹2,866 Cr may be effect neutral to negative view on this stock.
Intraday Analysis for Tech Mahindra and Wipro share
Technical analysis of Tech Mahindra share
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| Technical analysis of Tech Mahindra share |
From the above 15min chart, we can see that after a fresh break of structure in bullish trend pull back to discount zone and ready for next move. You may consider this share above 1528 levels for further upward movement. You add a stoploss below 1509. Just wait for market to open for exact intraday levels.
Technical analysis for Wipro share
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| Technical analysis for Wipro share |
When we look in to the Wipro share we have 2 scenarios, considering the Q1 results and technical analysis, bullish view above 179 price levels else price moves below 177 price levels you may look for intraday trades in bearish sides with proper risk management.
Conclusion
While comparing Q1 results of Tech Mahindra and Wipro, we can see Tech Mahindra given the stronger results. For intraday aspect we bullish opportunities in Tech Mahindra and almost neutral to Bearish view in Wipro share. Always wait for live market to react on intraday levels to enter in to a trade.
All studies just for education purpose and risk involved in every trade, trade with responsibility.