Wipro Support & Resistance Level for the day

kelmarin

Wipro Limited is one of India's largest IT services companies and is actively traded on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). When analyzing Wipro’s support and resistance levels, we can apply technical analysis tools such as swing highs, swing lows, moving averages, Fibonacci retracement, and volume analysis.

Support Levels:
₹375 - ₹380 (Recent Low / Support Zone):

If Wipro has recently tested this level and bounced up, this would indicate strong support in the ₹375 - ₹380 range. A break below this zone could suggest further downside to the next support.
₹350 (Psychological Support):

The ₹350 level is a round number and could act as a psychological support zone. If the price approaches ₹350 and finds buying interest, this would confirm its strength as a support level.
₹320 - ₹330 (Previous Low / Support Zone):

If Wipro previously reversed direction around ₹320 to ₹330, this would be a key support zone. A break below this level would suggest significant weakness in the stock, potentially leading to a move towards lower levels.
Resistance Levels:
₹420 - ₹430 (Recent Highs / Resistance Zone):

If Wipro has faced resistance around ₹420 to ₹430 multiple times, this is a strong resistance zone. A break above this range could signal bullish continuation with the next resistance at higher levels.
₹450 (Key Resistance):

₹450 is a significant psychological resistance level. If Wipro has previously struggled to break above this level, it could act as strong resistance again. If Wipro breaks above this level with volume, it could signal further upside potential.
₹475 - ₹480 (Next Resistance Zone):

If the stock has touched or approached ₹475 - ₹480 in the past and failed to move higher, this range could be the next resistance zone. A sustained breakout above this level could target ₹500 or higher.
Key Areas to Watch:
Break Above ₹430:

A breakout above ₹430 would likely lead Wipro to test the next resistance levels at ₹450 and ₹475. Watch for volume confirmation to support the breakout.
Break Below ₹375:

A breakdown below ₹375 would suggest a possible shift to bearish momentum, and the stock could then test ₹350 or lower. If Wipro closes below ₹350, further downside could open up.