MPHASIS trade ideas
MphasisNeeds more clarity. In a tight weekly uptrend. Wait for a trend line retest. We will look for a tight stop loss to enter.
MPHASIS Positional | Cup & handle + Trendline BreakoutCMP : 920
SL : 823
Target : 1060, 1150
1) Very bullish trendline breakout
2) High dividend paying company so attracting buyers more on dips. Recently provided Rs.35/- per share, that is almost 3.5% yield.
3) Excellent delivery volume last 2 weeks, on average the company is having 40% + almost everyday.
4) Cup & Handle is pattern is very strong in sideways market
Consider buying in dips.
MPHASIS, 1.5 YRS BREAKOUT (WILL IT SUSTAIN TOMORROW?)MPHASIS has given closing just about important long running TL since Feb'19. This TL was respected 6-7 times in past making it very critical.
MPHASIS should be bullish above 933 (936 for safe trader).
Price action trading is a process of using price to analyze stock possible movement. Keep your charts as simple as possible so that you keep focus on most important element on chart "PRICE".
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Reach out if you wish to learn simplest form of price action and willing to put effort in practice.
Cheers!
Piyush Gupta
Mphasis Ltd. - WILL IT BREAK THE RESISTANCE ?Mphasis Ltd.
The stock faced resistance from 895 zone and also faced resistance from 200 day SMA in Daily Chart.
Technical indicators are bullish. Time-Trend Indicator is also Bullish.
If price breaks the 200 day SMA resistance and closes above 900, the next resistance is 957 and the support is 100 day SMA (810) on the daily chart.
KEEP AN EYE!! #B+
MPHASIS Chart Case-1: Buy above 929.9
Targets are 931.9,938,940,954.35,958.85,966++
SL-949.65
Case-2: It may fall from 927.15 to 905.2(@Channel Bottom) and there is bounce back, Buy after it reaches Channel Bottom
Targets are 917.3,918.8,921.65,931.9,939,940.9++
SL-930.3
Case-3: Sell below 930.15
Targets are 924.8,923.1,921.95,919.3,916.5,910--
SL-938
