WIPRO - IntraDay Trade Analysis

Last Updated Time : 02 Aug 25, 12:58 am

📊 IntraDay Trade Rating: 3.1

Wipro Ltd (WIPRO) is showing mild bearish momentum today, making it a cautious candidate for intraday trading. While the stock has strong fundamentals, the technicals suggest limited upside unless a reversal emerges.

🔍 Intraday Analysis Summary

❌ Bearish Indicators

MACD: Negative at -1.53, indicating downward momentum

RSI: Weak at 39.8, trending toward oversold but not yet reversing

Price Below 50-DMA & 200-DMA: Indicates short-term and medium-term weakness

FII Holding: Decline of -0.19% reflects reduced institutional confidence

52W Index: At 26.9%, shows significant underperformance

✅ Bullish Signals

Volume Surge: Current volume (1.32 Cr) is well above 1-week average (93.8L), indicating strong participation

MACD Histogram: Flattening, suggesting potential bottoming

Support Zone: Price near ₹242–₹245, which may act as a bounce level

Fundamentals: Low debt (0.23), decent ROE (16.6%), and attractive dividend yield (2.38%)

💡 Intraday Strategy

📈 If You're Entering Fresh Today

Optimal Buy Price: ₹243–₹245 (near support zone and fair value gap)

Profit Target Levels

First Target: ₹248.5

Second Target: ₹253.9 (if momentum improves)

Stop Loss: ₹240.5 (below support and intraday low)

📉 If You're Already Holding

Exit on Weakness

If price breaks below ₹242 with low volume and RSI dips below 38, consider exiting

MACD remaining negative confirms weakness

Exit on Strength

If price crosses ₹248.5 with volume surge and RSI > 45, consider partial profit booking

Full exit near ₹253.9 if momentum fades

🧠 Final Thoughts

WIPRO is not ideal for aggressive intraday trading today, but may offer a short-term bounce if it holds above ₹243. Traders should monitor volume and RSI closely for confirmation.

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