Signals, Powered By EquityPandit
WIPRO Weekly Outlook and Analysis:
For the Week: (Aug 17,2020 – Aug 21,2020)
BSE: 507685 | NSE: WIPRO | ISIN: INE075A01022 | SECTOR: I.T.
Stock closed the Weekly on negative note losing -0.32%
Wipro Share Price: 276.50 (NSE)
Weekly High: 284.65
Weekly Low: 274.55
Weekly Range: 10.10 Points
Weekly Support & Resistance For WIPRO:
| RESISTANCE 2 | 301.00 |
| RESISTANCE 1 | 292.00 |
| SUPPORT 1 | 261.00 |
| SUPPORT 2 | 254.00 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 261 levels, Minor resistance on the upside is capped around 292 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 254 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 301.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 305 on upside and 250 on downside.
On daily charts, after making new high stock witnessed selling pressure at 290- 292 level, accumulation can seen in the stock in previous two weeks with narrow range. Stock holds strong support at 260 levels on the downside, Any fresh up move will be seen in stock once it closes above 295 level on weekly basis.
