Wipro Limited STOCK OF THE VIEW

 

Wipro Limited – Technical Analysis

CMP: ₹198

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📊 Key Support & Resistance

• Immediate Resistance: ₹205

• Major Resistance: ₹218 / ₹235

• Immediate Support: ₹190

• Strong Support: ₹180

Price is currently trading near support zone ₹190–₹195, indicating possible bounce if momentum improves.

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📈 Short Term View (1–15 Days)

Trend: Sideways to Mild Bullish

Trade Setup

• Entry: ₹200 (breakout confirmation)

• Target 1: ₹210

• Target 2: ₹218

• Stop Loss: ₹190

📊 Probability: 60–63%

💰 P&L Potential

• Profit: +5% to +10%

• Risk: −4%

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📊 Medium Term View (1–3 Months)

Trend: Consolidation / Accumulation

Strategy

• Buy Zone: ₹190 – ₹200

• Target 1: ₹225

• Target 2: ₹245

• Stop Loss: ₹178

📊 Probability: 58–62%

💰 P&L Potential

• Profit: +13% to +23%

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📈 Long Term View (6–18 Months)

Trend: Gradual Bullish (IT Sector Recovery)

Investment Strategy

• Accumulation Zone: ₹185 – ₹200

• Target 1: ₹280

• Target 2: ₹320

• Stop Loss: ₹160

📊 Probability: 60–65%

💰 P&L Potential

• Profit Potential: +40% to +60%

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📊 Technical Indicators

✔ Price near long-term support zone
✔ RSI near neutral zone (45–55)
✔ Consolidation after correction may lead to breakout above ₹205
✔ IT sector showing gradual recovery sentiment

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⚠ Risk Scenario

• Breakdown below ₹190 may push price toward ₹175–₹180

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✅ Simple Strategy

• Aggressive Traders: Buy above ₹200 breakout

• Positional Traders: Accumulate near ₹190–₹195