EquityPandit’s Outlook for Wipro for the week  (Sep 04, 2017 – Sep 08, 2017) :

WIPRO:

Wipro closed the week on positive note gaining around 2.50%.

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 300 and close the week around the levels of 296.

Support for the stock lies in the zone of 294 to 296 from where the stock broke out after consolidation. If the stock manages to close below these levels then the stock can drift to the levels of 284 to 286 from where the stock broke out of June-2017 highs.

Resistance for the stock lies in the zone of 300 to 302. If the stock manages to close above these levels then the stock can move to the levels of 308 to 310 where long term Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 288 to 290 on downside & 305 to 308 on upside.