EquityPandit’s Outlook for Wipro for the week  (Jan 29, 2018 – Feb 02, 2018) : 

WIPRO:

Wipro closed the week on negative note losing around 5.20%.

As we have mentioned last week, that resistance for the stock lies in the zone of 330 to 335 where the stock has formed a top in the month of March-2015. If the stock manages to close above these levels then the stock can move to the levels of 345 to 350. During the week the stock manages to hit a high of 329 and close the week around the levels of 312.

Support for the stock lies in the zone of 308 to 310 from where the stock broke out of the top formed in the month of November-2017. If the stock manages to close below these levels then the stock can drift to the levels of 300 to 303 where short & medium term moving averages are lying.

Minor resistance for the stock lies in the zone of 315 to 320. Resistance for the stock lies in the zone of 330 to 335 where the stock has formed a top in the month of March-2015. If the stock manages to close above these levels then the stock can move to the levels of 345 to 350.

Broad range for the stock in the coming week is seen between 295 to 300 on downside & 325 to 330 on upside.