EquityPandit’s Outlook for Wipro for the week  (June 05, 2017 – June 09, 2017) :

WIPRO:

Wipro closed the week on positive note gaining around 2.40%.

As we have mentioned last week that minor support for the stock lies in the zone of 530 to 533. Support for the stock lies in the zone of 518 to 520 from where the stock broke out of March-2017 and April-2017 highs. If the stock manages to close below these levels then the stock can drift to the levels of 500 to 505 from where the stock broke out after consolidation and short term moving averages are lying. During the week the stock manages to hit a low of 529 and close the week around the levels of 552.

Minor support for the stock lies in the zone of 535 to 540. Support for the stock lies in the zone of 518 to 520 from where the stock broke out of March-2017 and April-2017 highs. If the stock manages to close below these levels then the stock can drift to the levels of 500 to 505 from where the stock broke out after consolidation and short term moving averages are lying.

Resistance for the stock lies in the zone of 555 to 557 from where the stock broke down. If the stock manages to close above these levels then the stock can move to the levels of 562 to 566.

Broad range for the stock in the coming week is seen between 535 to 540 on downside & 560 to 565 on upside.