EquityPandit’s Outlook for Wipro for the week  (July 30, 2018 – Aug 03, 2018) : 

WIPRO:

Wipro closed the week on negative note losing around 3.00%.

As we have mentioned last week, that minor support for the stock lies around 275 to 278. Support for the stock lies in the zone of 268 to 270 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 250 to 255 where the stock has taken multiple support in the month of June-2017. During the week the stock manages to hit a low of 263 and close the week around the levels of 275.

Support for the stock lies in the zone of 268 to 270 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 250 to 255 where the stock has taken multiple support in the month of June-2017.

Resistance for the stock lies in the zone of 285 to 290 where Fibonacci levels and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 300 to 305 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 260 to 265 on downside & 285 to 290 on upside.