For those who have read Stan Weinstein's book "Secrets For Profiting in Bull and Bear Markets" will relate to the structure forming here and the stage in which the stock is currently in.
The stock price is hovering above the 40 Weekly Moving Average (WMA), is in an uptrend and has formed positive base formations. Post this week's bullish candle formation the...
Up Trend
Tripple Bottom in Short time frame.
Macd will be positive above Trenline Breakout
RSI above 50
stoploss 3.40% @ 2492
Target 7.84@2782
Risk Reward : 1 : 2.30
Reason to buy :-
1. Bullish candel on weekly chart.
2. Stock in rising channel, making lower lows and higher highs.
3. MACD revershal right from centre line.
4. RSI 64 considered to be bullish.
5. IT sector stock which has taken u turn from lows.
Trade:-
So, 2800 CE option Feb expity availablr at Rs 54, looking good. Lot 275.
Mphasis Limited is a information technology (IT) services and solutions provider. The Company is engaged in offering applications, business process outsourcing (BPO) and infrastructure services
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
3....
NSE: MPHASIS is closing with a bullish consolidation candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 13% to 19% gain on...
Starting to slowly build back positions again after going into all cash, will be building progressively, and be very willing to step out once again if i see selling resume in the markets
entry - cmp
sl - day's low
IT is the one major sector that has fallen the least in this fall, and also has broken out of a relatively larger base recently
Mphasis trading in descending triangle pattern. Wait for breakout then price move first target. if break second level with good move then reach second target also.
Major price corrections in the past had been around 50-65%, which was expected to be done when stock made low of 1660.
In December 2023, price cleared its resistance around 2435 along with the Monthly MACD crossing above its Trigger line.
This suggests that the long term uptrend is now likely to resume.
If price is to continue its past behavior, it could...
Buy from cmp to 2570
sl close belwo 2560
easy tg - 2720
Not suggested
Disclaimer : This is my personal analysis for study purpose not intended for trading.
The stock, Mphasis has recently developed a Head & Shoulders pattern, signaling a potential trend reversal. Traders should exercise caution and consider implementing proper risk management strategies. On the chart, clear indications for stop-loss and two target levels have been outlined.
Please note that this information is not financial advice but a market...
Mphasis Ltd
solutions provider specializing in providing cloud and cognitive services, applies next-generation technology to help enterprises transform businesses globally.
ROCE 28.9 %
ROE 21.9 %
Debt to equity 0.03
Promoter holding 55.6 %
Piotroski score 6.00
this is momentum debt free stock.
pls like follow share and boost for more ideas.
