EquityPandit’s Outlook for Wipro for the week  (Nov 20, 2017 – Nov 24, 2017) :

WIPRO:

Wipro closed the week on negative note losing around 2.50%.

As we have mentioned last week, that support for the stock lies in the zone of 297 to 299 from where the stock broke out after consolidation. If the stock manages to close below these levels then the stock can drift to the levels of 292 to 294 where break out levels and short term moving averages for the stock is lying. During the week the stock manages to hit a low of 294 and close the week around the levels of 295.

Support for the stock lies in the zone of 292 to 294 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 285 to 287 where medium term moving averages and trend-line support for the stock is lying.

Minor resistance for the stock lies in the zone of 297 to 299. Resistance for the stock lies in the zone of 305 to 307 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 315 to 318.

Broad range for the stock in the coming week is seen between 285 to 288 on downside & 305 to 310 on upside.