Technical Analysis Wipro Ltd.

The stock

is currently trading around ₹175 and remains in a short-term downtrend after a sharp decline from the ₹210 zone. However, the recent price action suggests that selling pressure is gradually easing, with the stock attempting to form a base near its recent lows. A sustained recovery will require confirmation through a breakout above key resistance levels. The stock is currently consolidating around the ₹172–176 range indicating that buyers are defending this support area. The immediate support is at ₹172 while the major support zone is around ₹168–170. Holding above these levels keeps the possibility of a recovery alive. The first resistance is at ₹180–182. A decisive breakout above this zone could push the stock towards ₹188–195 with the next major resistance near ₹200–205. Short-term buyers should wait for a confirmed breakout above ₹182 with strong trading volume before taking fresh positions. The stock is attempting to build a base, but confirmation is still required. A stop-loss below ₹170 is advisable. Existing holders can continue to hold the stock as long as it remains above the ₹168–170 support zone. The stock appears to be stabilizing after a sharp correction and a breakout above ₹182 could improve momentum and open the way for a stronger recovery in the coming weeks.