EquityPandit’s Outlook for Wipro for the week (June 27, 2016 – July 01, 2016):

WIPRO:

Wipro closed the week on positive note gaining around 0.60%.

As we have mentioned last week that resistance for the stock lies in the zone of 558 to 560 where 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 565 where 500 Daily SMA is lying. During the week the stock manages to hit a high of 564.85 and close the week around the levels of 555.

Support for the stock lies in the zone of 542 to 545 where short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 520 to 525 from where the stock has bounced in the month of March – 2016.

Resistance for the stock lies in the zone of 558 to 560 where 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 565 where 500 Daily SMA is lying.

Broad range for the stock in the coming week is seen between 538 to 542 on downside to 565 to 568 on upside.