💻 Wipro at Make-or-Break Support Zone!

🔎 Technical View Elliott Wave Structure: The broader structure indicates the stock completed a strong impulsive rally from 2023–2024, followed by a corrective phase. It is now testing the long-term trendline support. Trendline & AVWAP Support: Price is hovering near the ascending trendline (~₹243), which has been respected multiple times. Sustaining above this line is crucial for any bounce-back. Volume Action: Current fall is on relatively lower volumes compared to past rallies, indicating absence of major distribution pressure. Outlook: A bounce from ₹240 levels can push Wipro back towards ₹270–₹300. A breakdown below ₹240, however, may trigger deeper downside towards ₹193. 📊 Fundamental View Wipro remains one of India’s largest IT services companies, backed by global delivery capabilities. Earnings Pressure: The IT sector faces margin and demand headwinds, but cost optimization and digital transformation deals provide resilience. Valuation Comfort: Stock trades at a reasonable valuation compared to peers, making downside risk relatively limited for long-term investors. ✅ Key Levels to Watch Support: ₹240 – Crucial trendline Breakdown Level: ₹193 Upside Targets: ₹270 – ₹300 if support holds