EquityPandit’s Outlook for Wipro for the week (April 11, 2016 – April 13, 2016):

WIPRO:

Wipro closed the week on negative note losing around 2.20%.

As we have mentioned last week that support for the stock lies in the zone of 545 to 550 where short term moving averages and 100 Daily SMA are lying. If the stock manages to close below these levels then the stock can drift to the levels of 520 to 525 where the stock has formed a short term bottom. During the week the stock manages to hit a low of 546 and close the week around the levels of 550.

The stock has closed around the support zone of 545 to 550 where short term moving averages and 100 Daily SMA are lying. If the stock manages to close below these levels then the stock can drift to the levels of 520 to 525 where the stock has formed a short term bottom.

Resistance for the stock lies in the zone of 560 to 565 where 200 & 500 Daily SMA are positioned. If the stock manages to close above these levels then the stock can move to the levels of 590.

Broad range for the stock in the coming week is seen between 535 to 540 on downside to 560 to 565 on upside.