Wipro Ltd. Technical Momentum Shifts to Bullish Amid Mixed Market Returns

Technical Trend Overview

Wipro’s technical indicators reveal a nuanced picture. On the weekly scale, the Moving Average Convergence Divergence (MACD) has turned bullish, signalling increasing upward momentum. This is complemented by a bullish stance in the Bollinger Bands and the Know Sure Thing (KST) oscillator, both suggesting strengthening price action. The daily moving averages also support this positive momentum, reinforcing the short-term bullish outlook.

Conversely, monthly indicators present a more cautious scenario. The MACD remains mildly bearish, indicating some underlying resistance or consolidation at higher levels. However, the Relative Strength Index (RSI) on the monthly chart has turned bullish, suggesting that the stock is gaining strength and could be poised for a breakout if momentum sustains. Bollinger Bands on the monthly timeframe are sideways, reflecting a period of price stability without significant volatility.

Price Movement and Volatility

Wipro’s current price stands at ₹264.15, marginally up 0.40% from the previous close of ₹263.10. The stock traded within a narrow intraday range, hitting a high of ₹264.55 and a low of ₹261.30. This restrained volatility aligns with the sideways Bollinger Bands on the monthly chart, indicating a consolidation phase before a potential directional move.

Over the past 52 weeks, Wipro’s price has fluctuated between ₹225.05 and ₹324.55, highlighting a significant range of nearly ₹100. The current price remains closer to the lower end of this range, suggesting room for upside if bullish momentum continues to build.

Momentum Indicators and Market Sentiment

The weekly RSI currently shows no definitive signal, hovering in a neutral zone, which implies that the stock is neither overbought nor oversold in the short term. This neutrality could provide a stable base for further upward movement without immediate risk of a sharp correction.

On the monthly scale, the bullish RSI contrasts with the mildly bearish MACD and KST, signalling a potential divergence that traders often interpret as a precursor to trend reversals. The Dow Theory assessment aligns with this mixed picture, showing a mildly bullish trend weekly but no clear trend monthly. Meanwhile, the On-Balance Volume (OBV) indicator remains flat on both weekly and monthly charts, suggesting that volume has not yet confirmed the price moves decisively.

Comparative Performance Against Sensex

Wipro’s recent returns relative to the benchmark Sensex reveal a mixed performance. Over the past week, Wipro declined by 0.49%, outperforming the Sensex’s sharper fall of 1.69%. Over the last month, Wipro gained 1.38%, contrasting with the Sensex’s 1.92% decline, indicating relative strength in the short term. Year-to-date, Wipro has posted a modest 0.28% gain while the Sensex has fallen 1.87%.

However, over longer horizons, Wipro has lagged the Sensex. The stock’s one-year return is negative at -9.49%, while the Sensex advanced 9.56%. Over three and five years, Wipro’s returns of 34.21% and 15.16% respectively trail the Sensex’s 38.78% and 68.97%. Even on a decade-long basis, Wipro’s 157.88% gain is significantly below the Sensex’s 236.47%, reflecting challenges in maintaining growth momentum over extended periods.

Mojo Score Upgrade and Market Implications

MarketsMOJO has upgraded Wipro’s Mojo Grade from Hold to Buy as of 13 Jan 2026, reflecting the improved technical outlook and positive momentum signals. The current Mojo Score stands at 75.0, a strong indication of favourable conditions for investors. The Market Cap Grade remains at 1, signalling a large-cap status with stable market capitalisation.

This upgrade is consistent with the shift in technical trends from mildly bullish to bullish on weekly charts, suggesting that Wipro could be entering a phase of renewed investor interest and price appreciation. The upgrade also aligns with the daily moving averages’ bullish stance, which often acts as a reliable short-term indicator for price direction.

Technical Indicators in Detail

The MACD’s weekly bullish crossover indicates that the short-term momentum is gaining strength relative to the longer-term trend. This is a positive sign for traders looking for confirmation of upward price movement. The monthly MACD’s mild bearishness, however, advises caution, as it may signal resistance or a need for consolidation before further gains.

The RSI’s monthly bullish signal suggests that the stock is gaining strength and could break out of its current consolidation phase. The lack of a weekly RSI signal implies that the stock is in a balanced state, neither overbought nor oversold, which can be conducive to steady price appreciation without sharp reversals.

Bollinger Bands on the weekly chart are bullish, indicating that price is trending near the upper band, often a sign of strength. The sideways monthly Bollinger Bands reflect a period of reduced volatility, which may precede a significant directional move.

The KST oscillator’s weekly bullish reading supports the momentum shift, while its mild bearishness monthly suggests that longer-term investors should monitor for confirmation before committing fully.

Dow Theory’s mildly bullish weekly trend adds further weight to the positive short-term outlook, although the absence of a monthly trend signals that the broader market context remains uncertain.

Finally, the On-Balance Volume’s lack of trend on both weekly and monthly charts indicates that volume has not yet decisively confirmed the price action, a factor that investors should watch closely for signs of sustained buying interest.

Investor Takeaway and Outlook

Wipro Ltd.’s recent technical developments suggest a cautiously optimistic outlook. The shift to a bullish weekly trend supported by MACD, moving averages, and KST indicates that short-term momentum is improving. However, mixed monthly signals, including a mildly bearish MACD and sideways Bollinger Bands, counsel prudence and the need for confirmation of sustained strength.

Investors should monitor key technical levels, particularly the 52-week high of ₹324.55, as a breakout above this could signal a stronger uptrend. Conversely, support near the 52-week low of ₹225.05 remains a critical downside level. The current price near ₹264.15 offers a reasonable entry point for those looking to capitalise on the improving technical backdrop, especially given the Mojo Grade upgrade to Buy.

Relative performance against the Sensex highlights Wipro’s resilience in recent months, although longer-term underperformance suggests that investors should maintain a balanced perspective and consider sector and market conditions.

Overall, Wipro’s technical indicators and recent rating upgrade position it as a stock worth watching closely for potential upside, particularly for investors favouring large-cap software and consulting companies with improving momentum.

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