On day charts, Mphasis trading above 100,20 & 13 DEMA,
After earning volumes sustained and in bullish trend, A 10-15 days swing trade can be executed, To be buy above 3370 , Stop loss to be kept at 3250 & target may be 3600+
Today i have made a post on MPHASIS 4hr
I hope you find this post helpful and informative👍
The targets and stoploss would be given in the charts or they would be according to pivot points
I am not a SEBI registered financial advisor
Please consider your consultant's advise a must , all the setups posted here will be...
result will be announced on 29 july
stock trend is up
today shown move recovery from lows of approx two percent
holding imp level of 1100 mark
also stock is sideways from 3 days after a good upmove 3 day back !
i see trend continuation in stock going ahead
Currently RSI <70
IT stocks outperforming market
MACD signal line crossing MACD from below.
Hinting that still strength is left in IT stocks.
Stocks to look out for :
Stock is in a weekly uptrend, on a daily chart it has given breakout on upper side and retested upper trendline.
Initial Suggestion few days back
Buy Price - 2350
SL - 2094
Buy Price - 2400
SL - 2165
Results have also come out strong.
NSE:MPHASIS is fundamentally sound midcap IT stock that is working towards multiplying its market cap upto twice than it is today. Consistently increasing sales and profit, the company is promising 'Emerging IT' stock.
Friends as you can clearly see that the stock has faced multiple resistance from upper trend line i.e resistance trend line. Now It has also broke mini support trend line which was drawn using 30min time frame. Both these points prove that the stock might fall from here.