EquityPandit’s Outlook for Wipro for the week  (Aug 27, 2018 – Aug 31, 2018) : 

WIPRO:

Wipro closed the week on positive note gaining around 4.30%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 295 and close the week around the levels of 292.

Support 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 below these levels then the stock can drift to the levels of 268 to 272 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 300 to 305 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 315 to 320 from where the stock has broken down in the month of January-2018.

Broad range for the stock in the coming week is seen between 270 to 275 on downside & 310 to 315 on upside.