EquityPandit’s Outlook for Wipro for the week (September 14, 2015 – September 18, 2015):

WIPRO:

Wipro closed the week on positive note gaining around 1%.

During the week the stock was facing resistance around the zone of 570 to 580 where trend-line and 200 Daily SMA are positioned.

If the stock manages to close above the levels of 580 the stock can move to the levels of 600 where upward moving channel for the stock is lying.

Support for the stock lies in the zone of 550 below which the stock can drift to the levels of 530 where long term support for the stock lies.

Resistance for the stock lies in the zone of 560 to 570 above which the stock can move to the levels of 580 to 600.

The stock has been moving in the tight range of 545 to 550 on downside to 570 to 575 on upside. A breakout on either side will decide the further direction of the stock.

Broad range for the stock in the coming week is seen between 530 to 540 on downside to 570 to 580 on upside.