EquityPandit’s Outlook for Wipro for the week  (Nov 06, 2017 – Nov 10, 2017) :

WIPRO:

Wipro closed the week on negative note losing around 0.80%.

As we have mentioned last week, that minor support for the stock lies in the zone of 294 to 295. Support for the stock lies in the zone of 288 to 290 where break out levels for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 278 to 280 where medium term moving averages and trend-line support for the stock is lying. During the week the stock manages to hit a low of 292 and close the week around the levels of 295.

Support for the stock lies in the zone of 290 to 292 where break out levels and short term moving averages for the stock is lying. If the stock manages to close below these levels then the stock can drift to the levels of 280 to 282 where medium term moving averages and trend-line support for the stock is lying.

Resistance for the stock lies in the zone of 300 to 303 where the stock has formed a top in the month of September-2017. If the stock manages to close above these levels then the stock can move to the levels of 308 to 310.

Broad range for the stock in the coming week is seen between 285 to 288 on downside & 305 to 308 on upside.