EquityPandit’s Outlook for Wipro for the week (September 28, 2015 – October 02, 2015):

WIPRO:

Wipro closed the week on positive note gaining around 1.8%.

As we have mentioned last week that the 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. During the week the stock manages to hit a high of 605.

The stock has managed to close above the resistance zone of 600. Above the resistance zone of 600 the stock can move to the levels of 620 to 630 where upper end of the channel is positioned.

Support for the stock lies in the zone of 570 to 580 where 200 Daily SMA are positioned.

Broad range for the stock in the coming week is seen between 570 to 580 on downside to 620 to 630 on upside.