Mphasis Ltd - Long

Jul 10, 2021

Hi Guys,

Please find the detailed analysis of my view in Mphasis Ltd!!!

Time Frame of Chart - Daily
Market Structure - Advance
Swing Point - Swing Low to Swing High
Last Line of Defense is Braked ? No
What Type of Trend? Strong Trend - EMA 20 and Healthy Trend - EMA50
ATR Volatility? Flat
CPR? - Bullish Bias
What type of CPR? Extreme Narrow
Previous Virgin CPR is there? NO
Trend: Bullish
Chart Pattern: Triangle
Build Up happened before /after the breakout of the Chart Pattern? Yes At Resistance
Breakout Happened? Yes
Breakout Happened with god volume in Chart Pattern? Yes
Post Breakout Next Candle in-line with breakout candle? Yes
Retest Happened? Yes
Whether Breakout happened near the CPR? Yes
Post Retest Any Candlestick Pattern Found Inline With? Yes. Morning Star
In Area of Value whether any trend continuation pattern Found? Yes. Bullish Harami

Support: 2177, 2100 and 2000
Resistance: -2269

Trading:

Buy : Above 2100-2120
SL - 2069.25 ( Closes Above Daily in TF)
Target - 2328 ( Based on Fib Extn)
Risk: 50.70
Reward: 208
Ratio: 1:4.10

Trade is Favorable ? Yes

1Hr Time Frame:
https://www.tradingview.com/x/z3jKq0DE/

Regards,
Thenali Views.
Disclaimer: Kindly do your own analysis before executing the trade or contact
your financial advisor.