Wipro Limited (WIPRO) Stock - Complete Technical Analysis - Sep 03, 2024

Wipro Limited (WIPRO) Stock Analysis: Key Support, Resistance,

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Wipro Limited (WIPRO) is currently trading at 536, showing strong support at the 520 level, which is reinforced by multiple pivot points including Classic, Camarilla, Fibonacci, and Woodie. Resistance is prominent at the 560 level, with additional resistance at 580. The stock's trend is currently bullish, as indicated by a Bullish Harami candlestick pattern, which suggests potential upward momentum. The current Spinning Top pattern indicates market indecision, adding an element of caution. The Average Directional Index (ADX) suggests a weak trend, with a reading around 17. The MACD level is positive, signaling potential bullish movement. RSI is near neutral, suggesting the stock is neither overbought nor oversold. The Stochastic indicators are showing overbought conditions, which may signal a pullback. Moving averages, including the 10-day and 20-day EMA and SMA, suggest a positive trend, with the 50-day and 200-day moving averages providing additional support. The Average True Range (ATR) reflects high volatility, which is important for setting stop-loss levels. Overall, Wipro appears to be in a strong position with significant support and potential resistance levels, making it crucial to watch for breakout or breakdown signals in the coming sessions.