EquityPandit’s Outlook for Wipro for the week  (Dec 04, 2017 – Dec 08, 2017) :

WIPRO:

Wipro closed the week on negative note losing around 1.10%.

As we have mentioned last week, that support for the stock lies in the zone of 292 to 294 where break out levels and short term moving averages for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 285 to 287 where medium term moving averages and trend-line support for the stock is lying. During the week the stock manages to hit a low of 288 and close the week around the levels of 289.

Support for the stock lies in the zone of 286 to 288 where 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 278 to 280 where the stock has taken support in the month of September-2017.

Minor resistance for the stock lies in the zone of 292 to 293. Resistance for the stock lies in the zone of 298 to 300 where break down levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 305 to 307 from where the stock has broken down.

Broad range for the stock in the coming week is seen between 278 to 280 on downside & 298 to 300 on upside.