EquityPandit’s Outlook for Wipro for the week (May 13, 2019 – May 17,2019):
BSE: 507685 | NSE: WIPRO | ISIN: INE075A01022 | SECTOR: I.T.
Stock closed the week on negative note losing -0.15%
Week High: 293.70
Week Low: 290.55
Week Range: 3.15 Points
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 288- 286 levels, Minor resistance on the upside is capped around 299– 300 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 @ 275– 277 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 @ 310- 312
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 310– 312 on upside and 275– 277 on downside.