Wipro Limited (WIPRO) Stock - Complete Technical Analysis - Dec 12, 2024

Wipro Stock Analysis: Key Levels, Trends, and Insights for Traders Dec 2024

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 Technical Analysis for Web

Wipro Limited is currently at 309, just 0.61% below its 52-week high. This positions the stock in a strong bullish zone, supported by consistent higher highs in recent sessions. RSI above 70 and stochastic oscillators nearing extreme levels indicate potential overbought conditions. However, MACD remains firmly positive, suggesting momentum is still intact.

Short-term EMAs, particularly the 10-day and 20-day, are trending upward, acting as dynamic support levels. The stock's adherence to these averages reflects robust demand. In terms of price action, no significant gaps have formed, and the trend remains orderly, with resistance near 315. Awesome Oscillator's positive divergence signals sustained buying interest.

Volume patterns highlight an uptick in participation, aligning with price surges, reinforcing bullish sentiment. Traders should monitor for a breakout above 315 for confirmation of extended upside. Alternatively, a drop below 294 could trigger a corrective phase. Wipro's volatility metrics suggest stable trends, making it a favorable candidate for trend-following strategies.