EquityPandit’s Outlook for Wipro for the week  ( Jan 01, 2018 – Jan 05, 2018) : 

WIPRO:

Wipro closed the week on positive note gaining around 4.20%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 316 and close the week around the levels of 314.

Support for the stock lies in the zone of 308 to 310 from where the stock broke out of the top formed in the month of November-2017. If the stock manages to close below these levels then the stock can drift to the levels of 294 to 296 where short and medium term moving averages are lying.

Resistance for the stock lies in the zone of 315 to 317. If the stock manages to close above these levels then the stock can move to the levels of 330 to 335 where the stock has formed a top in the month of March-2015.

Broad range for the stock in the coming week is seen between 295 to 300 on downside & 330 to 335 on upside.