EquityPandit’s Outlook for Wipro for the week  (Sep 10, 2018 – Sep 14, 2018) : 

WIPRO:

Wipro closed the week on positive note gaining around 7.80%.

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 328 and close the week around the levels of 325.

Minor support for the stock lies around 315 to 320. Support for the stock lies in the zone of 300 to 305 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 285 to 290 where Fibonacci levels and long term moving averages are lying.

Resistance for the stock lies in the zone of 330 to 335 where high for the month of January-2018 is lying. If the stock manages to close above these levels then the stock can move to the levels of 345 to 350.

Broad range for the stock in the coming week is seen between 300 to 305 on downside & 345 to 350 on upside.