Wipro Ltd Gains 1.07%: 3 Key Factors Driving the Week’s Mixed Momentum

29 December 2025: Surge in Derivatives Open Interest Amid Price Pressure

On 29 December, Wipro’s derivatives segment saw a notable 10.53% increase in open interest, rising to 76,779 contracts from 69,462 the previous day. This surge was accompanied by robust trading volumes, with futures and options turnover reaching ₹1,68,408.19 lakhs, signalling intense market activity despite the stock’s price decline of 0.77% to Rs.264.25. The stock underperformed the Sensex’s 0.41% fall, reflecting cautious sentiment among investors.

Despite the short-term weakness, Wipro’s share price remained above its key moving averages (20-day, 50-day, 100-day, and 200-day), indicating that the medium- to long-term trend was still intact. The drop below the 5-day moving average suggested short-term consolidation or profit booking. Delivery volumes declined sharply, down 69.23% compared to the five-day average, highlighting reduced conviction among long-term holders amid speculative derivatives positioning.

30 December 2025: Continued Price Softness with Stable Market Activity

On 30 December, Wipro’s stock price marginally declined by 0.17% to Rs.263.80, closely tracking the Sensex’s near-flat movement (-0.01%). Delivery volumes rebounded to 33.04 lakh shares, a 2.13% increase over the five-day average, suggesting renewed investor willingness to hold shares despite recent price softness. The derivatives market remained active, supporting the stock’s liquidity and tradability.

31 December 2025: Open Interest Spikes Despite Price Decline

Wipro’s derivatives open interest surged again by 10.55% to 49,584 contracts on 31 December, signalling fresh capital inflows into the market. The combined futures and options turnover reached ₹17,490.27 lakhs, underscoring strong participation from institutional and retail investors. However, the stock price declined by 0.15% to Rs.263.40, underperforming the Sensex’s 0.83% gain and the sector’s slight negative return.

The stock’s price remained above its major moving averages but below the 5-day average, indicating short-term weakness amid a longer-term uptrend. The increase in delivery volumes and liquidity metrics suggested healthy investor engagement and tradability. The elevated open interest and volume pointed to active positioning for either a rebound or continuation of the correction, with options data reflecting hedging and speculative strategies.

1 January 2026: Price Rebounds with Strong Volume

On the first trading day of 2026, Wipro’s stock rebounded sharply, gaining 1.48% to close at Rs.267.30. This rise outpaced the Sensex’s modest 0.14% increase, signalling renewed buying interest. Volume surged to 441,154 shares, the highest of the week, supporting the price recovery. The stock’s movement above the 5-day moving average suggested a potential short-term trend reversal after the prior consolidation.

2 January 2026: Golden Cross Formation Signals Potential Bullish Breakout

Wipro Ltd. formed a Golden Cross on 2 January, a significant technical event where the 50-day moving average crossed above the 200-day moving average. This crossover is widely regarded as a bullish signal, indicating strengthening momentum and a possible trend reversal from bearish to bullish phases. The stock closed at Rs.269.15, up 0.69% on the day, while the Sensex gained 0.81%.

Despite a subdued one-year performance with an 11.36% decline versus the Sensex’s 7.28% gain, Wipro has shown encouraging shorter-term trends. It surged 7.55% over the past month and 11.68% over three months, outperforming the benchmark. The Golden Cross aligns with these improving momentum indicators, supported by bullish daily and weekly technical metrics such as MACD and On-Balance Volume.

Valuation remains attractive with a price-to-earnings ratio of 20.91, below the industry average of 28.12. The company’s market capitalisation stands at ₹2,81,676 crores, confirming its large-cap status. The recent Mojo Grade upgrade to Hold and a Mojo Score of 68.0 reflect balanced analyst sentiment amid cautious optimism.

Daily Price Comparison: Wipro Ltd vs Sensex (29 Dec 2025 – 2 Jan 2026)

Key Takeaways

Positive Signals: The formation of the Golden Cross on 2 January is a strong technical indicator suggesting a potential bullish breakout. Wipro’s stock remains above key moving averages, supporting a medium- to long-term uptrend. The recent surge in derivatives open interest and volume reflects active market participation and positioning for directional moves. Short-term price recovery on 1 and 2 January with increased volumes indicates renewed investor interest.

Cautionary Notes: Despite technical improvements, Wipro’s one-year performance remains subdued relative to the Sensex, and the stock underperformed the benchmark for much of the week. Delivery volumes showed volatility, with a sharp drop on 29 December signalling reduced conviction among long-term holders. The stock’s weekly gain of 1.07% lagged the Sensex’s 1.35%, indicating relative underperformance amid mixed market conditions.

Conclusion

Wipro Ltd’s week was characterised by mixed momentum, with significant derivatives market activity and a key technical development in the form of a Golden Cross. While the stock showed short-term price weakness early in the week, it rebounded strongly in the final sessions, closing with a modest gain. The technical signals suggest a potential shift towards bullish momentum, but investors should remain mindful of the stock’s relative underperformance and broader market volatility.

The company’s improved Mojo Score and Hold rating reflect a balanced outlook, with cautious optimism prevailing. Monitoring open interest trends, volume patterns, and price action in the coming weeks will be essential to confirm whether Wipro can sustain an upward trajectory and close the gap with the broader market’s gains.

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