EquityPandit’s Outlook for Wipro for the week  (June 04, 2018 – June 08, 2018) : 

WIPRO:

Wipro closed the week on negative note losing around 1.50%.

As we have mentioned last week, that resistance for the stock lies in the zone of 268 to 270 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 285 to 290 where Fibonacci levels and short & long term moving averages are lying. During the week the stock manages to hit a high of 265 and close the week around the levels of 261.

Support for the stock lies in the zone of 250 to 255 where the stock has taken multiple support in the month of June-2017. If the stock manages to close below these levels then the stock can drift to the levels of 240 to 245.

Resistance for the stock lies in the zone of 268 to 270 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 285 to 290 where Fibonacci levels and short & long term moving averages are lying.

Broad range for the stock in the coming week is seen between 245 to 250 on downside & 275 to 280 on upside.