EquityPandit’s Outlook for Wipro for the week (November 30, 2015 – December 04, 2015):

WIPRO:

Wipro closed the week on absolutely flat note.

As we have mentioned last week that stock has closes around the strong resistance zone of 570 to 580 where 100 & 200 Daily SMA are positioned. If the stock manages to close above this levels then the stock can move to the levels of 600. During the week the stock manages to hit a high of 577 and close the week around the levels of 570.

Support for the stock lies in the zone of 560 where 500 Daily SMA is lying. If the stock closes below this levels then the stock can drift to the levels of 540 to 545 where trend-line support for the stock is lying.

Stock has closes around the strong resistance zone of 570 to 580 where 100 & 200 Daily SMA are positioned. If the stock manages to close above this levels then the stock can move to the levels of 600.

The stock has formed a Doji pattern on weekly charts in an uptrend indicating the pause in uptrend.

Broad range for the stock in the coming week is seen between 550 to 555 on downside to 585 to 590 on upside.