EquityPandit’s Outlook for Wipro for the week  (Apr 23, 2018 – Apr 27, 2018) : 

WIPRO:

Wipro closed the week on positive note gaining around 1.30%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 300 and close the week around the levels of 298.

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 & 315 to 320 on upside.