EquityPandit’s Outlook for Wipro for the week  (Jan 15, 2018 – Jan 19, 2018) : 

WIPRO:

Wipro closed the week on positive note gaining around 2.90%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 306 and close the week around the levels of 319.

Support for the stock lies in the zone of 312 to 314 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 304 to 306 from where the stock broke out of the top formed in the month of November-2017.

Resistance for the stock lies in the zone of 324 to 327. 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 300 to 305 on downside & 330 to 335 on upside.