Signals, Powered By EquityPandit
WIPRO Weekly Outlook and Analysis:
For the Week: (Aug 10,2020 – Aug 14,2020)
BSE: 507685 | NSE: WIPRO | ISIN: INE075A01022 | SECTOR: I.T.
Stock closed the week on positive note gaining +3.84%
Wipro Share Price: 280.95 (NSE)
Week High: 290.80
Week Low: 267.15
Week Range: 23.65 Points
Weekly Support & Resistance For WIPRO Limited:
| RESISTANCE 2 | 303.00 |
| RESISTANCE 1 | 292.00 |
| SUPPORT 1 | 261.00 |
| SUPPORT 2 | 254.00 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 261 levels, Minor resistance on the upside is capped around 292 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 254 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 303.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 285 on upside and 220 on downside.
On the chart we can see that, after making new high stock came down as stock is facing selling pressure (resistance), but overall stock is in bullish uptrend and on the daily time frame stock is moving above 100 & 200 EMAs, if stock hold its strength it can head towards higher levels.
