EquityPandit’s Outlook for Wipro for the week (December 21, 2015 – December 24, 2015):

WIPRO:

Wipro closed the week on negative note losing around 2.30%.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 570 and corrected to close the week around the levels of 553.

Support for the stock lies in the zone of 540 to 545 where trend-line support for the stock is lying. If the stock closes below this levels then the stock will break the trend-line support which is holding the stock since the month of April – 2015.

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 540 to 545 on downside to 565 to 570 on upside.