🚀 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
📉 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
Trade active
CMP 2390Note
first target achieved todays high 2558Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.