EquityPandit’s Outlook for Wipro for the week (April 22,2019 – April 26,2019):

WIPRO:

WIPRO Ltd.

BSE: 507685 | NSE: WIPRO | ISIN: INE075A01022 | SECTOR: I.T.
Stock closed the week on positive note gaining +1.35%

Week High: 288.15

Week Low: 281.00

Week Range: 7.15 Points

As the news of buyback in WIPRO is there at rate of 325 per share stock is in great attraction for the trader and investors, Technically on the daily charts EquitPandit’s analyst see minor support on the downside for WIPRO at 270- 275 levels, whereas minor resistance on the upside is capped around 290- 295 levels.

If WIPRO breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next major support levels lower side around 265- 260, if WIPRO breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 320- 325

Currently trend for the stock is bullish as stock trading above 200 days exponential moving averages.

EquityPandit predicts WIPRO range for the week is seen from 320- 325 on upside & 265- 260 on downside.