Mphasis - Chance of BreaOutHi all
Greetings!
i see a possible breakout in Mphasis Ltd. Daily Time Frame Charts.
Hoping for a good up move now as the stock has been a under performer as IT sectors been down.
Important Things
1. This is only for educational purposes only.
2. Never over trade.
3. Always keep Stop Loss.
4. Trade in limited quantity.
5. Taking a small loss is better than wiping up your whole capital.
I hope you found this idea helpful.
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Happy & Safe Trading
MPHASIS trade ideas
Swing Trading Opportunity For Last week of May 2023The price is near the resistance level for both Daily and Weekly timeframes.
Wait for the Breakout candle on a daily timeframe and then enter accordingly.
If the stock goes down without breaking the resistance then ignore it for a while.
Note: This idea is for education purpose only.
Double bottom pattern breakout in MPHASISMPHASIS
Key highlights: 💡⚡
✅On 1Day Time Frame Stock Showing Breakout of Double bottom Pattern .
✅ Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 2030+.
✅Can Go Long in this stock by placing a stop loss below 1785-.
MPHASIS range breakoutMPHASIS (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 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 weekly closing is pending tomorrow (so for confirmation, need to wait till tomorrow)
History suggest it may again give a good run from here