Wipro share prices were trading all time high and broken the structural resistance zone on 24th April. While the price action has continued to trade in a positive trajectory, despite weak market breadth.
Even though the stock has witnessed a high-volume breakdown on 8th march, the stock has managed to filled the breakdown gap in a short span of time and it as resumed the primary trend.
High volume engulfing appeared on 16th April, but the stock has failed to sustained the seller’s strength as bulls were able to absorb the selling pressure with ease.
Strong support is seen around 250 level. On the indicator front, the stock is well placed above its 21-days moving average. Sector trend is also positive in recent days.