EquityPandit’s Outlook for Wipro for the week  (Oct 09, 2017 – Oct 13, 2017) :

WIPRO:

Wipro closed the week on positive note gaining around 2.30%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 284 to 285. Resistance for the stock lies in the zone of 288 to 290 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 294 to 296 from where the stock broke down after consolidation. During the week the stock manages to hit a high of 287 and close the week around the levels of 286.

Minor support for the stock lies in the zone of 281 to 283. Support for the stock lies in the zone of 275 to 277 where medium term moving averages and trend-line support for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 264 to 266 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 288 to 290 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 294 to 296 from where the stock broke down after consolidation.

Broad range for the stock in the coming week is seen between 275 to 277 on downside & 292 to 294 on upside.