Wipro stock has 11% upside potential

Business: The stock recently witnessed a strong rally and reached close to the important 100-period moving average (MA) at ₹486. It has shown signs of going downwards with a good comeback seen currently. With a positive bullish candle structure, it has moved beyond the important 50EMA (Exponential Moving Average) level of ₹504, improving the bias. The chart looks attractive, with indicators like RSI indicating a positive trend reversal after cooling off substantially from the extremely overbought zone.