EquityPandit’s Outlook for Wipro for the week  (Nov 12, 2018 – Nov 16, 2018) : 

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 310 to 315. Support for the stock lies in the zone of 300 to 305 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 285 to 290 where Fibonacci levels and long term moving averages are lying. During the week the stock manages to hit a low of 314 and close the week around the levels of 325.

Minor support for the stock lies around 310 to 315. Support for the stock lies in the zone of 300 to 305 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 285 to 290 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 and September-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 295 to 300 on downside & 345 to 350 on upside.