EquityPandit’s Outlook for Wipro for the week (Dec 16, 2019 – Dec 20, 2019):

WIPRO:

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

Stock closed the week on positive note gaining +1.18%

Week High: 244.85

Week Low: 236.35

Week Range: 8.50 Points

WIPRO Ltd.

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 239 levels, Minor resistance on the upside is capped around 248 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 @ 232 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 @ 254.

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the week as 255 on upside and 230 on downside.