EquityPandit’s Outlook for Wipro for the week  (July 31, 2017 – Aug 04, 2017) :

WIPRO:

Wipro closed the week on positive note gaining around 1.00%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 293 and close the week around the levels of 289.

Support for the stock lies in the zone of 284 to 286 from where the stock broke out of June-2017 highs. If the stock manages to close below these levels then the stock can drift to the levels of 275 to 277 from where the stock broke out on gap up opening.

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 282 to 284 on downside & 294 to 296 on upside.