Wipro Outlook for the Week (Sept 04,2020 – Sept 18,2020)


For the Week: (Sept 04,2020 – Sept 18,2020)

4 WIPRO

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

Stock closed the Weekly on positive note gaining +6.27%

Wipro Share Price: 293.30 (NSE)

Weekly High: 298.45

Weekly Low: 271.50

Weekly Range: 26.95 Points

Weekly Support & Resistance For WIPRO:

RESISTANCE 2 304.00
RESISTANCE 1 298.00
SUPPORT 1 267.00
SUPPORT 2 259.00

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 267 levels, Minor resistance on the upside is capped around 298 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 @ 259 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 @ 304.

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 310 on upside and 250 on downside.

On the chart we can see that, after making new high stock come down as stock facing selling pressure but stock is in bullish uptrend and on the daily time frame stock holding 100 & 200 EMAs, if stock hold its strength it can be reach on higher side.