MPHASIS

Jan 18

• Major price corrections in the past had been around 50-65%, which was expected to be done when stock made low of 1660.
  
• In December 2023, price cleared its resistance around 2435 along with the Monthly MACD crossing above its Trigger line.
  
• This suggests that the long term uptrend is now likely to resume.
  
• If price is to continue its past behavior, it could head to 6800.
  
• For momentum traders/investors, stop loss could be 2400, but this bullish outlook remains valid as long as price is above 1660.