EquityPandit’s Outlook for Wipro for the week  (Nov 13, 2017 – Nov 17, 2017) :

WIPRO:

Wipro closed the week on positive note gaining around 2.70%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 309 and close the week around the levels of 303.

Support for the stock lies in the zone of 297 to 299 from where the stock broke out after consolidation. If the stock manages to close below these levels then the stock can drift to the levels of 292 to 294 where break out levels and short term moving averages for the stock is lying.

Resistance for the stock lies in the zone of 305 to 307 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 315 to 318.

Broad range for the stock in the coming week is seen between 295 to 298 on downside & 315 to 318 on upside.