EquityPandit’s Outlook for Wipro for the week (April 08, 2019 – April 12, 2019):
BSE: 507685 | NSE: WIPRO | ISIN: INE075A01022 | SECTOR: I.T.
Stock closed the week on positive note gaining +2.90%
Week High: 262.15
Week Low: 254.75
Week Range: 7.40 Points
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for WIPRO at 250 – 252 levels, whereas minor resistance on the upside is capped around 264- 265 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 235- 240, 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 270- 275
Currently trend for the stock is bullish as stock trading above 200 days exponential moving averages.
EquityPandit predicts WIPRO range for the week is seen from 270- 275 on upside & 235- 240 on downside.