Wipro: Rs 195.71 close, 25% above exit; hold, no add

Wipro [][***** closed at Rs 195.71 on StockGro’s 3:59 PM IST print on 30 October, up 3.9 percent from Rs 188.43. That is 25 percent above my Rs 156.79 exit and above the Rs 177.74 resistance from 16 July. The price has moved well past the levels I set, and I found no company-specific cause for the 30 October move in any dated source. Nothing on my 26 October gate has changed. Q2 FY27 operating margin was 16.5 percent, which passed. Management has still not given a PERM count or cost estimate; its only statement is that the suspension will not have a material impact, with over 80 percent of US employees locally recruited. The Alpha Net contract completion is still set for 31 December 2026. My view: hold, not a fresh entry. The margin test passed, but the PERM gate is still open, and the price has moved well past my levels. Fresh money waits for a PERM count or cost estimate from management. No fresh money at this price on the margin alone. My exit is a close below Rs 156.79, the NSE 52-week low, unchanged. Nothing in the last week triggers it. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company.