🔍 Double Cup & Handle in the Making in Wipro?

The current price structure of this stock reveals a classic yet rare formation: a double cup & handle-like pattern spanning over three years. The first larger cup completed with a rally toward ₹308 in mid-2023. This was followed by a smaller, more recent cup and handle forming between early 2024 and mid-2025—now nearing the critical phase of the handle’s right side. 🔹 Structural Highlights Immediate Resistance: ₹273.45 This historically significant pivot is currently acting as a resistance cap. Major Resistance: ₹308.40 A breakout above this level would signal strong bullish continuation and confirm the broader pattern. Support Zone: ₹235–240 A confluence of the handle’s low and the ascending channel’s lower bound. 🔹 Trend Context Price continues to respect a well-established ascending channel from early 2023. A failed breakout above ₹273–280 has led to a pullback, but the stock is now attempting to re-enter that zone—indicating bullish resilience. 🔹 Volume Profile Volume during the bounce from lower channel support remains healthy, but has yet to exhibit the conviction needed for a confirmed breakout. A surge in volume near ₹273–280 would strengthen the bullish case. 🐂 Bullish Outlook Double cup structure + channel = strong base formation Breakout and sustain above ₹273–280 opens room toward ₹308 and eventually ₹340+ 🐻 Bearish Risk Rejection from ₹273–280 may result in a retest of ₹240 or even ₹220 Failure to form a higher high could signal exhaustion As always, pattern recognition is just one part of the puzzle—volume, structure, and sentiment must align to validate moves. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned.