EquityPandit’s Outlook for Wipro for the week (December 14, 2015 – December 18, 2015):

WIPRO:

Wipro closed the week on negative note losing around 0.60%.

As we have mentioned last week that the stock has close around the strong resistance zone of 570 to 580 where 100 & 200 Daily SMA are positioned. If the stock manages to close above this levels then the stock can move to the levels of 600. During the week the stock manages to hit a high of 579 and sold off to close the week around the levels of 566.

Stock has close around the strong support zone of 565 where 500 Daily SMA is lying. If the stock closes below the levels of 560 then the stock can drift to the levels of 540 to 545 where trend-line support for the stock is lying.

Resistance for the stock lies in the zone of 570 to 580 where 100 & 200 Daily SMA are positioned. If the stock manages to close above this levels then the stock can move to the levels of 600.

Broad range for the stock in the coming week is seen between 550 to 555 on downside to 585 to 590 on upside.