EquityPandit’s Outlook for Wipro for the week (September 21, 2015 – September 25, 2015):

WIPRO:

Wipro closed the week on positive note gaining around 6%.

As we have mentioned last week that the stock was facing resistance around the zone of 570 to 580 where trend-line and 200 Daily SMA are positioned. If the stock manages to close above the levels of 580 the stock can move to the levels of 600 where upward moving channel for the stock is lying. The stock manages to hit a high of 595 during the week.

Support for the stock lies in the zone of 570 to 580 where short term moving averages and 200 Daily SMA are positioned.

Resistance for the stock lies in the zone of 590 to 600 above which the stock can move to the levels of 620 to 630 where upper end of the channel is positioned.

Broad range for the stock in the coming week is seen between 560 to 570 on downside to 600 to 620 on upside.