EquityPandit’s Outlook for Wipro for the week (January 11, 2016 – January 15, 2016):

WIPRO:

Wipro closed the week on absolutely flat note.

As we have mentioned last week that resistance for the stock lies in the zone of 565 to 570 where 100, 200 & 500 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 568 and retraced to close the week around the levels of 556.

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 565 to 570 where 100, 200 & 500 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.