EquityPandit’s Outlook for Wipro for the week  (July 24, 2017 – July 28, 2017) :

WIPRO:

Wipro closed the week on positive note gaining around 10.00%.

As we have mentioned last week, that resistance for the stock lies in the zone of 264 to 266 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 275 to 277. During the week the stock manages to hit a high of 291 and close the week around the levels of 286.

Minor support for the stock lies in the zone of 281 to 283. Support for the stock lies in the zone of 275 to 277 from where the stock broke out on gap up opening. If the stock manages to close below these levels then the stock can drift to the levels of 269 to 271 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 288 to 290. If the stock manages to close above these levels then the stock can move to the levels of 294 to 296 where long term Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 275 to 277 on downside & 294 to 296 on upside.