WIPRO Weekly Outlook and Analysis:
For the Week: (May 10, 2021 – May 14, 2021)
BSE: 507685 | NSE: WIPRO | ISIN: INE075A01022 | SECTOR: I.T.
The stock closed the Weekly on a positive note gaining +4.57%
Wipro Share Price: 515.25 (NSE)
Weekly High: 516.55
Weekly Low: 477.80
Weekly Range: 38.75 Points
Weekly Support & Resistance For WIPRO:
Technically on the daily charts, EquityPandit’s Analyst sees: Minor support on the downside lies at 452 levels, Minor resistance on the upside is capped around 527 levels.
If stock breaches minor support on the downside and closes below it we may see a fresh break down and stock can drag towards Major Support on the lower side @ 415 and If stock breaches minor resistance on the upside and closes above it we may see a fresh breakout and stock can head towards Major Resistances Level @ 555.
Stock is trading above 200 days exponential moving average, which suggests the long term trend is bullish. EquityPandit predicts the range for the Weekly as 600 on the upside and 400 on the downside.
On the chart we can see that, stock making new high break the level now stock is in a bullish uptrend and on the daily time frame stock moving above 100 & 200 EMAs, if the stock holds its strength it can be reached on the higher side.