WIPRO Weekly Outlook and Analysis:

For the Week: (Sept 07,2020 – Sept 11,2020)

BSE: 507685 | NSE: WIPRO | ISIN: INE075A01022 | SECTOR: I.T.

Stock closed the Weekly on positive note gaining +1.45%

Wipro Share Price: 276.00 (NSE)

Weekly High: 287.85

Weekly Low: 276.00

Weekly Range: 11.85 Points

Weekly Support & Resistance For WIPRO:

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 261 levels, Minor resistance on the upside is capped around 292 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 @ 254 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 @ 301.

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 305 on upside and 250 on downside.

Formation of Flag pattern has been visible on the stock and Flag is an continuation pattern, in the coming week we may see the breakout of resistance levels and stock may touch its 52-weeks high again, In the coming weeks Rupee may also get weaken as dollar index is trading at important support levels, emerging market currencies may get weaken giving strength to IT Stocks.