Mphasis: Bounce from Long-Term Support

21 Mar

🚀 Mphasis: Bounce from Long-Term Support 🚀

📉 Current Market Price (CMP): ₹2790📈 Support Level: Long-term support bounce confirmed🔒 Stop Loss: ₹2170📈 Targets: ₹2518 | ₹2732

📊 Key Insights:

🔹 Sector Strength: Nifty IT index showed a strong recovery after an initial 2% gap down, reclaiming losses in the first hour – a sign of sector-wide resilience.

🔹 Technical Setup: Mphasis has bounced from long-term support and is forming an "N" pattern. Today's breakout further strengthens the bullish sentiment.

🔹 Swing Trading Opportunity: With quarterly results approaching in April, this could present an attractive swing trading opportunity in the IT space.

💡 Strategy & Risk Management:

🔒 Stop Loss: Maintain a strict stop loss at ₹2170 to protect against downside risk.📈 Staggered Entry: Given market volatility, consider building positions gradually as confirmation strengthens.

📈 Outlook: With the Nifty IT sector recovering and Mphasis confirming a technical breakout, there is potential for further upside. Careful position management can help navigate market fluctuations.

📍 Stay informed and stay disciplined!

📈 Disclaimer: As a non-SEBI registered analyst, I recommend conducting thorough research or seeking advice from financial professionals before making investment decisions.

#Mphasis #ITSector #SwingTrading #TechnicalAnalysis #StockMarket #InvestmentOpportunities #BreakoutStrategy

21 Mar

İşlem aktif

CMP 2390

25 Mar

Not

first target achieved todays high 2558

24 Nis

İşlem kapandı: durdurma seviyesi