MPhasis trading near it's hourly support zone @ 2030 - 2000 and expected to show a bounce towards marked target on the chart.
To motivate us, Please like the idea If you agree with the analysis.
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InvestPro India Team
MPHASIS (NSE) has broken out of its range with heavy volume. This breakout has also happened at the 200 day moving average.
Keeping the range consolidation zone as the probable area of up trend, we can keep the target as previous resistance zone of 2450. Conservative investors can wait for a reversal and confirmation before placing a trade.
Mphasis after making a top in 2018 corrected for around 50% from its previous and then went on to make a rounding bottom formation and breakout of the same in 2020 May, from there it went on to give huge return.
Now again after correcting from recent top for about 50%, it has made a rounding bottom formation and is giving a good breakout above it. Although...
MPHASIS - The stock may have completed its correction cycle and resume higher now. As long as the correction doesn't extend (price doesn't fall below the previous low), the uptrend should continue in the long term.
IT index and IT stocks was pulling nifty down & we are observing the downtrend since Jan 22 but looking like we are approaching to an end to it. A series of up move is expected in this Index.
On an Hourly TF index is bullish above 28k,
On a 4 Hr TF index is bullish above 28.5k
On a daily TF index is bullish above 29k
On a Daily TF index is bullish above...
In this stock breakout done and now its retesting and spot buyer are taking their position, so now time to buy price 2350 sl 2300 and target 2550
its only for education purpose , i am not any financial advisor ,( DYOR )
📈 Mphasis 📉
My Findings :-
1. Breakdown of Support Zone 2850-2900.
2. Close below Six Month Low.
3. Whole IT Sector is showing Weakness.
Bias- Short
Target- 2600 and 2300
SL- 3037
RR- 1: 1.5
All Important Supports and Resistances are drawn in chart.
All levels are of Spot and on closing basis.
Disclaimer : Consult Your Financial Advisor Before Taking Any...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
📈 Mphasis Ltd. 📉
Mphasis Ltd. broke out from a downtrending trendline zone after testing three times and it was inside a beautiful triangle pattern as well. Yes it has closed at high of Fab and March too.
So I am biased on long side.
On Buy Side I am looking for initial Targets of 3548.
StopLoss should be kept at 3250.
It offers 1:2 Risk Reward.
All Important...
