SWING IDEA - MPHASIS
Updated
Mphasis, a prominent IT services company, is showing technical signals that suggest a promising swing trading opportunity.
Reasons are listed below :
Target - 3460 // 3900
Stoploss - weekly close below 2475
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 :
- Break of Cup and Handle Pattern: The price has broken out of a cup and handle pattern, a bullish continuation pattern that indicates potential for further upward movement.
- 2830 Resistance Zone Breakout: The 2830 level has been a significant resistance zone, and the price has recently broken out above this level, indicating strong bullish momentum.
- Bullish Marubozu Candle on Weekly Timeframe: The formation of a bullish marubozu candle on the weekly chart signifies strong buying pressure and suggests potential for continued upward movement.
- Volume Spike: A noticeable increase in trading volumes confirms the strength of the price move and indicates growing investor interest.
- Breaking Consolidation Phase of 2+ Years: The stock is breaking out of a long consolidation phase that lasted over two years, signaling a potential new bullish trend.
Target - 3460 // 3900
Stoploss - weekly close below 2475
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
Note
made a high of 7%++Note
hold for target!Note
made a high of 9%++Note
hold!Note
new high!Note
holdNote
retested the support zone and bounced backNote
strong bullish marubozu candle on weekly timeframe, hold!
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