WIPRO Wipro Limited is attempting a major trendline breakout and turnaround on the weekly chart after recovering from its 52-week base low near ₹168.00 – ₹170.00. The stock recently produced a strong bullish green expansion candle, breaking above its short-term descending diagonal resistance trendline. Currently trading at ₹184.40 (+13.43%), price is setting up a high-probability retest structure around the Support / Retest ENTRY zone near ₹180.00 – ₹184.40. Above this level, the chart outlines a multi-stage recovery path through immediate horizontal resistance levels toward overhead supply targets.
🔹 PATTERN: TRENDLINE BREAKOUT & RETEST SUPPORT
• Pattern Structure: Clean breakout above a descending green diagonal trendline extending across lower high peaks from mid-2026.
• Support / Retest ENTRY Zone: Horizontal demand area around ₹180.00 – ₹184.40 (with key support level at ₹190.57 directly above).
• GAP Resistance (Daily): A yellow horizontal gap supply box situated between ₹198.00 and ₹202.00.
• Intermediate Resistance / BreakDown Level: Horizontal band at ₹210.00 – ₹212.00.
• Macro Trendline & Target Zone: Primary multi-month descending green macro trendline intersecting key target levels at ₹224.81 and ₹230.00+.
• Major Base Floor: Green demand shelf at ₹168.00 – ₹172.00.
🟢 UPSIDE SCENARIO – BULLISH BREAKOUT
• Retest / Retrace BUY Entry Level: ₹184.40 (Support / Retest ENTRY)
• Confirmation Required: Weekly candle holding support above ₹180.00 – ₹184.40
• TARGET 1 (GAP Resistance): ₹200.00 (+8.46% move from ₹184.40 BUY entry)
• TARGET 2 / Intermediate Resistance: ₹212.00 (+14.97% move from BUY entry)
• SWING TRADE TARGET / Macro Trendline: ₹224.81 – ₹230.50 (+21.91% to +25.00% move from BUY entry)
• Extended Peak Target: ₹259.05 (+40.48% move from BUY entry)
• Major High Ceiling: ₹273.10 (+48.10% move from BUY entry)
🔴 DOWNSIDE SCENARIO – BEARISH BREAKDOWN
• Weakening Level: Loss of immediate retest support at ₹180.00
• Breakdown Level: Weekly close below ₹175.00 into lower base demand
• Important Support Levels: ₹190.57, ₹184.40 (Retest ENTRY), ₹180.00, ₹175.00, ₹170.00, and ₹168.00 (Major Base Low)
• Invalidation / Stop Loss (SL): Weekly candle close below base low at ₹168.00 (-8.89% SL from ₹184.40 BUY entry) or below retest shelf at ₹175.00 (-5.10% SL).
🔹 MY BREAKOUT & EXIT RULE
If price crosses above a key resistance level (such as ₹184.40, ₹200.00, or ₹212.00) and makes a High above that level, but closes below that same level, I consider it a failed breakout/rejection and the BUYER NEEDS TO EXIT THE TRADE.
High above level + Close below level = Failed breakout → EXIT BUY TRADE.
🎯 MY TRADE ROADMAP
Bullish Breakout Path:
₹184.40 Support / Retest ENTRY (BUY Entry)
↓
₹190.57 Support / BreakDown / Resistance Breach
↓
₹200.00 TARGET 1 / GAP Resistance (+8.46% from BUY Entry)
↓
Minor Retrace / Retest to ₹190.57
↓
₹212.00 TARGET 2 / Intermediate Resistance (+14.97% from BUY Entry)
↓
₹224.81 – ₹230.50 SWING TRADE TARGET / Macro Resistance (+21.91% to +25.00% from BUY Entry)
Bearish Breakdown Path:
Rejection near ₹190.57 / ₹200.00 Resistance
↓
₹184.40 / ₹180.00 Immediate Support
↓
₹175.00 Intermediate Demand
↓
₹168.00 Major Base Low Invalidation (-8.89% SL from BUY Entry)
🔑 MY VIEW
The preferred technical setup is strongly bullish, anticipating a successful retest of the broken trendline around the ₹180.00 – ₹184.40 BUY entry zone. The recent strong bullish weekly candle demonstrates a decisive shift from the long-term corrective trend.
The bullish expansion thesis accelerates as price holds above ₹184.40 (BUY Entry) and clears ₹190.57, opening the path toward ₹200.00 (TARGET 1 / +8.46%), ₹212.00 (TARGET 2 / +14.97%), and the SWING TRADE TARGET at ₹224.81 – ₹230.50 (+25.00% from BUY Entry). The setup invalidates if price experiences a severe rejection and breaks down with a weekly close below the base low at ₹168.00 (-8.89% SL). A breakout confirmation requires a solid weekly candle close above trigger levels, strictly following the candle-close exit rule if a rejection occurs.
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This is technical analysis based on chart structure, price levels, and visual patterns shown above. It is not financial advice. Market conditions can change and actual price movement may differ from projected levels.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.