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 currently trades at 544, showing mixed signals. A Doji and Spinning Top indicate indecision in the market, suggesting a possible pause in the downtrend from the recent high of 578.75. The stock closed at 543.70, just below key pivot levels, reflecting potential weakness in the short term. Despite being 44.22% above its 52-week low, the RSI indicates neutral conditions, and MACD shows potential upward momentum.
Resistance is forming near the 10-day EMA at 548.45, while support is evident around the recent low of 540.4. As Wipro approaches these critical levels, traders should remain vigilant for breakout signals. Watch closely around the pivot point of 550.28 for further directional movement as Wipro navigates this phase of consolidation.
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