Signals, Powered By EquityPandit
WIPRO Weekly Outlook and Analysis:
For the Week: (Oct 12,2020 – Oct 16,2020)
BSE: 507685 | NSE: WIPRO | ISIN: INE075A01022 | SECTOR: I.T.
Stock closed the Weekly on positive note gaining +19.47%
Wipro Share Price: 374.00 (NSE)
Weekly High: 376.10
Weekly Low: 315.20
Weekly Range: 60.90 Points
Weekly Support & Resistance For WIPRO:
| RESISTANCE 2 | 395.00 |
| RESISTANCE 1 | 383.00 |
| SUPPORT 1 | 337.00 |
| SUPPORT 2 | 325.00 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 337 levels, Minor resistance on the upside is capped around 383 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 325 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 395.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 400 on upside and 320 on downside.
On the chart we can see that, stock making new high break the level now stock is in bullish uptrend and on the daily time frame stock moving above 100 & 200 EMAs, if stock hold its strength it can be reach on higher side.
