EquityPandit’s Outlook for Wipro for the week  (Jan 14, 2019 – Jan 18, 2019) : 

WIPRO:

Wipro closed the week on positive note gaining around 1.20%.

As we have mentioned last week, that resistance for the stock lies in the zone of 335 to 340 where high for the month of January-2018, September-2018 and November-2018 is lying. If the stock manages to close above these levels then the stock can move to the levels of 350 to 355. During the week the stock manages to hit a high of 333 and close the week around the levels of 329.

Minor support for the stock lies around 320 to 325. Support for the stock lies in the zone of 310 to 315 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 300 to 305 where Fibonacci levels and long term moving averages are lying.

Resistance for the stock lies in the zone of 335 to 340 where high for the month of January-2018, September-2018 and November-2018 is lying. If the stock manages to close above these levels then the stock can move to the levels of 350 to 355.

Broad range for the stock in the coming week is seen between 310 to 315 on downside & 345 to 350 on upside.