EquityPandit’s Outlook for Wipro for the week  (Apr 09, 2018 – Apr 13, 2018) : 

WIPRO:

Wipro closed the week on positive note gaining around 1.10%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 291 and close the week around the levels of 284.

Minor support for the stock lies in the zone of 278 to 280. 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.

Broad range for the stock in the coming week is seen between 270 to 275 on downside & 295 to 300 on upside.