EquityPandit’s Outlook for Wipro for the week  (Apr 02, 2018 – Apr 06, 2018) : 

WIPRO:

Wipro closed the week on negative note losing around 1.20%.

As we have mentioned last week, that support for the stock lies in the zone of 280 to 285 where the stock has formed a bottom in the month of December-2017 and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 270 to 273 where Fibonacci levels are lying. During the week the stock manages to hit a low of 272 and close the week around the levels of 281.

Support for the stock lies in the zone of 270 to 273 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 250 to 255 where long term Fibonacci levels are lying.

Resistance for the stock lies in the zone of 286 to 290 where 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 from where the stock has broken down and short & medium term moving averages are lying.

Broad range for the stock in the coming week is seen between 265 to 270 on downside & 295 to 300 on upside.