WIT Should I Buy
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Wipro Ltd (WIT) is not a strong buy at this time for a beginner, long-term investor with $50,000-$100,000 to invest. The technical indicators are bearish, financial performance shows declining profitability, and analysts have downgraded the stock due to weaker growth visibility. While options data indicates some bearish sentiment, there are no significant positive catalysts or trading signals to support an immediate purchase.
The stock is in a bearish trend with MACD below zero and negatively expanding (-0.023), RSI at 27.955 in the neutral zone, and bearish moving averages (SMA_200 > SMA_20 > SMA_5). Key support is at 2.312, with resistance at 2.48. The stock has a 60% chance of declining further in the short term (-1.16% in the next day, -6.78% in the next week).
No significant positive catalysts identified. No recent news or congress trading activity.
Morgan Stanley downgraded the stock to Underweight with a reduced price target, citing weaker growth visibility and slower deal conversion. Financial performance shows declining net income (-11.83% YoY), EPS (-25.00% YoY), and gross margin (-8.04% YoY).
In Q3 2026, revenue increased slightly by 0.06% YoY to $2.64 billion, but net income dropped by 11.83% YoY to $350.18 million. EPS declined by 25% YoY to $0.03, and gross margin fell to 27.89%, down 8.04% YoY. These metrics indicate declining profitability and operational efficiency.
Morgan Stanley downgraded Wipro to Underweight from Equal Weight with a reduced price target of INR 242 (from INR 270). The downgrade reflects slower deal conversion, weaker growth visibility, and a widening valuation discount relative to peers.
