EquityPandit’s Outlook for Wipro for the week  (Jan 21, 2019 – Feb 1, 2019) : 

WIPRO:

Wipro closed the week on positive note gaining around 2.00%.

As we have mentioned last week, that minor support for the stock lies around 335 to 340. Support for the stock lies in the zone of 315 to 320 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. During the week the stock manages to hit a low of 333 and close the week around the levels of 353.

Minor support for the stock lies around 340 to 345. Support for the stock lies in the zone of 315 to 320 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 350 to 355 where Fibonacci extension is lying. If the stock manages to close above these levels then the stock can move to the levels of 365 to 370.

Broad range for the stock in the coming week is seen between 330 to 335 on downside & 365 to 370 on upside.