EquityPandit’s Outlook for Wipro for the week (November 02, 2015 – November 06, 2015):

WIPRO:

Wipro closed the week on positive note gaining around 1.0%.

As we have mentioned last week that support for the stock lies in the zone of 560 to 565 where 100 & 500 Daily SMA are positioned. If the stock manages to close below this levels then the stock can drift to the levels of 550 where long term trend-line for the stock is positioned. During the week the stock manages to hit a low of 565 and close the week around the levels of 573.

Support for the stock lies in the zone of 560 to 565 where 100 & 500 Daily SMA are positioned. If the stock manages to close below this levels then the stock can drift to the levels of 550 where long term trend-line for the stock is positioned.

Resistance for the stock lies in the zone of 585 where 100 Daily SMA is positioned. If the stock manages to close above this levels then the stock can move to the levels of 600 from where the stock has sold off.

Broad range for the stock in the coming week is seen between 555 to 560 on downside to 580 to 590 on upside.