EquityPandit’s Outlook for Wipro for the week  (Oct 30, 2017 – Nov 03, 2017) :

WIPRO:

Wipro closed the week on positive note gaining around 1.70%.

As we have mentioned last week, that resistance for the stock lies in the zone of 294 to 296 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 300 to 303 where the stock has formed a top in the month of September-2017. During the week the stock manages to hit a high of 304 and close the week around the levels of 297.

Minor support for the stock lies in the zone of 294 to 295. Support for the stock lies in the zone of 288 to 290 where break out levels for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 278 to 280 where medium term moving averages and trend-line support for the stock is lying.

Resistance for the stock lies in the zone of 300 to 303 where the stock has formed a top in the month of September-2017. If the stock manages to close above these levels then the stock can move to the levels of 308 to 310.

Broad range for the stock in the coming week is seen between 288 to 290 on downside & 305 to 308 on upside.