Wipro Near Historic Support – Cup & Handle or Breakdown?Wipro LimitedNSE:WIPROWaveXplorerOn the weekly chart, Wipro looks like it formed a rounded base near 176. This acts like the “cup” part of a possible cup-and-handle structure. The drop from 324.60 has formed a declining neckline, with price currently moving inside a falling channel that resembles a handle-like structure. Current Structure (A) formed at 228 (B) formed at 273.10 (C) is now projecting near 176 The 100% extension of (A) from (B) comes exactly near 176 — which is also the cup base. This makes 176 a key reaction zone. What to Watch 176 is the crucial support RSI is nearing oversold on weekly No confirmed bullish reversal pattern yet Price still inside a falling channel If price shows a strong bullish reversal near 176, we may see a technical bounce. However, if 176 breaks decisively, then deeper levels like 150 or even 116 cannot be ruled out. For now, any bounce may be treated as a selling opportunity unless clear trend reversal signals appear. Structure confirmation is still pending. Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.