EquityPandit’s Outlook for Wipro for the week  (Apr 30, 2018 – May 04, 2018) : 

WIPRO:

Wipro closed the week on negative note losing around 7.40%.

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 301 and close the week around the levels of 276.

Support for the stock lies in the zone of 273 to 278 where low for the month of March-2018 and 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 the stock has taken multiple support in the month of June-2017.

Resistance 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 above these levels then the stock can move to the levels of 300 to 305 from where the stock has broken down and Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 255 to 260 on downside & 290 to 295 on upside.