EquityPandit’s Outlook for Wipro for the week  (Sep 03, 2018 – Sep 07, 2018) : 

WIPRO:

Wipro closed the week on positive note gaining around 3.10%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 306 and close the week around the levels of 301.

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 280 to 285 on downside & 315 to 320 on upside.