Wipro stock, a key player in the Indian IT sector, is showing early signs of a potential rebound after taking solid support near its 200-week Exponential Moving Average (EMA). Since April 2025, technical charts have suggested that the stock is holding its ground above this crucial support zone — offering hope for a possible short-to-medium term upside.
The stock had fallen over 25% from its January highs, but recent price action hints at a comeback.
Wipro, which is also part of the BSE100 index, had touched a high of ₹324 on January 23, 2025. However, it couldn’t sustain the rally and gradually lost momentum. As of May 6, the stock closed at ₹241, reflecting the pressure it has faced in recent months.
But here’s where it gets interesting:
Technical analysts believe that the ₹200–EMA has acted as a strong support level — and a possible base for a fresh upward move.
Market experts now suggest that short-to-medium term traders can look at Wipro for potential gains. The target price in the next 1 to 3 months is seen around ₹260, provided the stock continues to sustain above its key support levels.
For those entering long positions, experts recommend a stop loss near ₹225 to manage risk effectively.
While the overall IT sector has seen mixed performance lately, Wipro’s ability to hold the technical base could indicate buyer interest at lower levels.
Investors are advised to watch this level closely and follow a disciplined approach if entering new trades. As always, keeping an eye on broader market cues and company-specific developments remains key.
