Signals, Powered By EquityPandit
WIPRO Weekly Outlook and Analysis:
For the Week: (Aug 24,2020 – Aug 28,2020)
BSE: 507685 | NSE: WIPRO | ISIN: INE075A01022 | SECTOR: I.T.
Stock closed the Weekly on negative note losing -1.14%
Wipro Share Price: 273.35 (NSE)
Weekly High: 287.40
Weekly Low: 272.70
Weekly Range: 14.70 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 the chart we can see that, after making new high stock come down as stock facing selling pressure but stock is in bullish uptrend and on the daily time frame stock moving above 100 & 200 EMAs, if stock hold its strength it can be reach on higher side.
