Wipro Ltd. Technical Momentum Shifts to Bullish Amid Positive Price Action

Technical Trend Evolution and Price Momentum

Over recent weeks, Wipro’s price momentum has gained traction, with the stock closing at ₹267.25 on 19 Jan 2026, up 2.73% from the previous close of ₹260.15. The intraday range saw a low of ₹262.65 and a high of ₹269.80, reflecting increased volatility but an overall upward bias. This price action is significant given the stock’s 52-week range of ₹225.05 to ₹324.55, positioning it closer to the lower half of its annual trading band but showing signs of recovery.

The technical trend has shifted from mildly bullish to bullish, supported by daily moving averages that currently indicate a positive trajectory. The stock’s short-term momentum is further validated by the weekly MACD, which remains bullish, suggesting that the recent price gains have underlying strength. However, the monthly MACD remains mildly bearish, indicating some caution for longer-term investors.

MACD and RSI Signals: Divergence and Confirmation

The MACD indicator, a key momentum oscillator, shows a divergence between weekly and monthly signals. The weekly MACD’s bullish stance reflects short-term momentum gains, with the MACD line crossing above the signal line, a classic buy signal. Conversely, the monthly MACD remains mildly bearish, implying that the longer-term trend has yet to fully confirm the recent rally.

Relative Strength Index (RSI) readings present a neutral picture, with no clear signals on either the weekly or monthly charts. This suggests that the stock is neither overbought nor oversold, providing room for further upward movement without immediate risk of a technical reversal. The absence of RSI extremes supports the notion that Wipro’s current momentum is sustainable in the near term.

Bollinger Bands and Moving Averages: Signs of Strength

Bollinger Bands have turned bullish on both weekly and monthly timeframes, indicating that price volatility is expanding in favour of upward movement. The stock price is currently trading near the upper band on the weekly chart, signalling strong buying interest. This is complemented by daily moving averages, which have aligned positively, with the 50-day moving average trending above the 200-day average, a classic bullish crossover.

Such alignment of moving averages often attracts momentum traders and institutional investors, reinforcing the bullish technical outlook. The KST (Know Sure Thing) indicator also supports this view, showing bullish momentum on the weekly chart, although it remains mildly bearish on the monthly scale, echoing the mixed signals from MACD.

Volume and Dow Theory Analysis

On-Balance Volume (OBV) indicators show no clear trend on either weekly or monthly charts, suggesting that volume has not decisively confirmed the price moves. This lack of volume confirmation warrants caution, as strong price moves without volume support can be vulnerable to reversals.

Dow Theory assessments provide a mildly bullish outlook on the weekly timeframe, indicating that the stock is in an early phase of an upward trend. However, the monthly Dow Theory shows no definitive trend, reinforcing the mixed signals from other monthly indicators. Investors should monitor these signals closely for confirmation of a sustained rally.

Comparative Performance: Wipro vs Sensex

Wipro’s recent returns have outpaced the broader Sensex index over short-term periods, highlighting its relative strength amid market volatility. Over the past week, Wipro gained 2.04%, while the Sensex was essentially flat, down 0.01%. Over one month, Wipro’s return of 3.13% contrasts with the Sensex’s decline of 1.31%. Year-to-date, Wipro is up 1.46%, whereas the Sensex has fallen 1.94%.

However, over longer horizons, Wipro has underperformed the Sensex. The stock’s one-year return stands at -7.22%, compared to the Sensex’s robust 8.47% gain. Similarly, over three and five years, Wipro’s cumulative returns of 34.08% and 21.92% lag behind the Sensex’s 39.07% and 70.43%, respectively. Over a decade, Wipro has delivered a commendable 162.27% return, though still trailing the Sensex’s 241.73%.

Mojo Score Upgrade and Market Implications

Reflecting these technical improvements and relative strength, Wipro’s MarketsMOJO score has been upgraded from Hold to Buy, with a current Mojo Score of 75.0 as of 13 Jan 2026. This upgrade signals increased confidence in the stock’s near-term prospects, supported by a Market Cap Grade of 1, indicating strong market capitalisation fundamentals.

The upgrade aligns with the bullish technical trend and suggests that Wipro is poised to benefit from renewed investor interest in the Computers - Software & Consulting sector. The company’s improving momentum metrics may attract both momentum and value investors seeking exposure to large-cap IT stocks with growth potential.

Investor Takeaway and Outlook

Wipro Ltd.’s technical indicators suggest a positive shift in momentum, with short-term signals turning bullish and daily moving averages supporting further gains. The mixed monthly signals advise caution, but the overall trend improvement and recent price strength indicate that the stock is regaining favour among investors.

Given the stock’s relative outperformance against the Sensex in recent weeks and the upgrade to a Buy rating by MarketsMOJO, investors may consider Wipro as a compelling option within the IT sector. However, the absence of volume confirmation and some lingering bearish monthly indicators suggest that prudent monitoring is warranted.

In summary, Wipro’s technical landscape is improving, with momentum indicators aligning to support a bullish outlook in the near term. This development, combined with a solid fundamental base and sector positioning, makes Wipro a stock to watch as it navigates the evolving market environment.

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