EquityPandit’s Outlook for Wipro for the week  (Dec 26, 2017 – Dec 29, 2017) :

WIPRO:

Wipro closed the week on positive note gaining around 4.00%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 284 and close the week around the levels of 302.

Support for the stock lies in the zone of 294 to 296 where short and medium term moving averages are 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.

Resistance for the stock lies in the zone of 305 to 308 where the stock has formed a top in the month of November-2017. If the stock manages to close above these levels then the stock can move to the levels of 315 to 317.

Broad range for the stock in the coming week is seen between 280 to 282 on downside & 315 to 320 on upside.