MPHASIS 15 MINUTE CHART -INTRADAY 06.11.2023
If trigger line crosses over 60.51, it may reach to 67.70, 40 to 60 Rs in cash.
If trigger line crosses below 52.40, it may reach to 40.31, 40 to 70 Rs in cash.
MPhasis trading near it's hourly support zone @ 2030 - 2000 and expected to show a bounce towards marked target on the chart.
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Happy Trading!
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 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...
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+
ASCENDING TRIANGLE formation , making higher lows.
prior uptrend established.
breakout above 2760 and view invalid if it breaks the trendline as well as the horizontal green area of support.
