EquityPandit’s Outlook for Wipro for the week(Mar 11, 2019 – Mar 15, 2019) :
BSE: 507685 | NSE: WIPRO | ISIN: INE075A01022 | SECTOR: I.T.
Stock closed the week on negative note losing -7.57%
Week High: 281.65
Week Low: 256.50
Week Range: 25.15 Points
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for WIPRO at 245- 250 levels, whereas minor resistance on the upside is capped around 265- 270 levels.
If WIPRO breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next major support levels lower side around 220- 230, if WIPRO breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 285- 290
Currently trend for the stock bearish to sideways as stock trading very near to 200 days exponential moving averages. EquityPandit predicts WIPRO range for the week is seen from 285- 290 on upside & 220- 230 on downside.