📊 Wipro Ltd – Confluence at Key Trendlines

1️⃣ Multi-Year Support The green trendline from 2020 lows has acted as a strong base through multiple retests. The stock recently took support here around ₹229, bouncing back sharply. 2️⃣ Channel Breakdown & Retest Wipro broke below the rising channel (red), followed by a pullback toward the breakdown zone near ₹274. This zone now acts as a resistance. 3️⃣ Descending Resistance Intact A long-term falling trendline (cyan) from 2021 highs continues to cap the upside. The recent move has paused precisely at this confluence — a critical area to watch. 4️⃣ Levels to Monitor 🔼 Resistance: ₹274 / ₹321 🟩 Support: ₹229 / ₹207 A breakout above ₹274 could tilt momentum, but rejection may drag price back toward ₹230–₹207. 📢 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. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.