Wipro Ltd. – Technical View for Monday $WIPRO

Wipro Ltd. – Technical View for Monday Wipro closed around ₹175 and is attempting to stabilize after the sharp correction seen in June. The stock recently touched a 52-week low zone and remains significantly below its 52-week high, indicating that the primary trend is still weak. Key Levels for Monday Immediate Support: ₹171–173 Major Support: ₹168 Immediate Resistance: ₹178 Breakout Resistance: ₹181–184 Target after breakout: ₹190–195 Stop Loss: ₹171 (closing basis) Trading Strategy ✅ Bullish Scenario Buy only if Wipro sustains above ₹178–180 with strong volume. Targets: ₹190 / ₹195 ⚠️ Bearish Scenario If it fails to cross ₹178 and slips below ₹171, downside towards ₹165–168 cannot be ruled out. Fundamental Triggers Recent weakness in global IT sentiment after weaker guidance from Accenture impacted Indian IT stocks, including Wipro. Wipro has also guided for a challenging demand environment, particularly in key overseas markets. Verdict Not a confirmed breakout yet. For Monday, watch ₹180 closely. A strong close above ₹180–181 with volume can trigger a fresh momentum move toward ₹190+. Until then, Wipro remains in a recovery phase rather than a clean breakout setup.