EquityPandit’s Outlook for Wipro for the week  (Dec 11, 2017 – Dec 15, 2017) :

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 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. During the week the stock manages to hit a low of 280 and close the week around the levels of 283.

Support for the stock lies in the zone of 278 to 280 where the stock has taken support in the month of September-2017. If the stock manages to close below these levels then the stock can drift to the levels of 272 to 274 where long term moving averages are lying.

Resistance for the stock lies in the zone of 286 to 288 where trend-line resistance for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 292 to 294 where short and medium term moving averages are lying.

Broad range for the stock in the coming week is seen between 272 to 275 on downside & 290 to 292 on upside.