EquityPandit’s Outlook for Wipro for the week  (Apr 16, 2018 – Apr 20, 2018) : 

WIPRO:

Wipro closed the week on positive note gaining around 3.50%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 278 and close the week around the levels of 294.

Support for the stock lies in the zone of 285 to 290 where Fibonacci levels and short & long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 273 to 278 where low for the month of March-2018 and Fibonacci levels are lying.

Resistance for the stock lies in the zone of 300 to 305 from where the stock has broken down and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 310 to 315.

Broad range for the stock in the coming week is seen between 275 to 280 on downside & 305 to 310 on upside.