MPHASIS LTDLong
SWING IDEA - MPHASIS
Updated
In this post, our spotlight is on Mphasis, a stock that has piqued our interest as a potential candidate for a swing trade, presenting the prospect of an upward rally.
Reasons are listed below :
Target - 3373 // 3653
StopLoss - weekly close below 2515
DISCLAIMER :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- The recent breakthrough of the 2450-2500 zone, coupled with a subsequent retest, suggests a solid foundation and potential support at these levels.
- Holding steadfast at the 0.382 Fibonacci retracement level, this stock showcases resilience and a reinforcing support structure.
- The presence of a bullish continuation candle on the weekly timeframe adds weight to the analysis, signaling positive momentum for potential upward movement.
- A consistent pattern of forming higher highs underscores a sustained uptrend, reflecting positive market sentiment.
- Trading above both the 50 and 200 EMAs affirms the stock's commitment to the prevailing uptrend, further bolstering the case for a potential swing trade.
Target - 3373 // 3653
StopLoss - weekly close below 2515
DISCLAIMER :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Trade closed: stop reached
Stoploss hit -7%
Disclaimer
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