MPHASISMphasis broke out of triangle pattern on daily/hourly charts with good volumes, also broke above its previous swing high.
Could be bought with mentioned stoploss & target.
MPHASIS trade ideas
MphasisHello and welcome to this analysis on Mphasis.
In the daily time frame its been in a sideways trend now for quite some time forming an Ichimoku P Wave.
We can see each swing zone has a 3 leg structure testing the 2 trendlines.
Currently it appears to be ending the 1st leg of the the last wave down (likely), a small bounce back from the current level and then the final leg of Wave E near to the lower trend line should complete this P wave triangle
Results are scheduled to be due end of the month. By then it is likely to complete what would be the end of a Price and Time correction in it.
Until then stock will continue to remain in a narrow range.
View would be wrong if the swing low at Wave C is broken. Alternatively if a turn from here breaks the upper trendline then will consider this low as end of Wave E.
buy mphasis 3344.05 buy mphasis 3344.05 / eliiot wave analysis / wave analysis / buy buy / trend line / good for buy
Mphasis BreakoutThe stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below the support zone & the lower trendline. The target is placed near resistance.
mphasis chart study 3378.05mphasis looks good for buy / elliot wave study / trend line breakout / macd is positive
Intraday trading target and stop lossIntraday trading drawing chart📉For most stock day traders, a tick chart will work best for actually placing trades. The tick chart shows the most detailed information and provides more potential trade signals when the market is active (relative to a one-minute or longer time frame chart
MPHASISMphasis broke out of triangle on hourly charts with decent volumes.
Could be bought with mentioned stoploss & target
(NSE:MPHASIS) - IT is in flavor......> Mphasis is a mid-sized IT company primarily engaged in providing IT / ITeS / BPO services catering to clients in the banking and capital markets, emerging industries, information technology, communication and entertainment and insurance. The company derives its revenues primarily from software services & projects, licensing arrangements & application services, infrastructure outsourcing services.
> Headquartered in Bangalore, the company has presence across US, Europe, Australia, Asia Pacific, Japan and India. Mphasis was incorporated in August 1992, as BFL Software Limited. Its name was changed to Mphasis BFL Limited in July 2000 after the merger of the US-based IT consulting company Mphasis Corporation (founded in 1998) and the Indian ITservices company BFL Software Limited which was founded in 1993. In June 2006, Electronic Data Systems Corporation acquired Mphasis, and later EDS was acquired by Hewlett-Packard; thereby resulting in Mphasis becoming a 60.47% subsidiary of HP. However, in September 2016, global private equity major Blackstone Group acquired HP’s stake through its SPV –Marble Pte II Limited. During May 2018, Marble II Pte. sold off 8% of its stake in the company for ~Rs.1,400 crore, reducing its shareholding to 52.3%.
MPHASIS may go upside above 3060overall trend is upside and waiting for break making a "W" pattern. Closing above 3060 will result into upside for new swing high above 3185
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MPHASIS LTDCan draw this channel in this energy script. Plan your trade accordingly. This will help you to take proper directional decision.
Shorting apportunity In this stock we can clearly see that after bigger triangle breakout stock fell down and now it's creating a bearish flag . So according to that now we can sell this stock if we see a good rejection over there .
Bullish NSE:MPHASISBuy = 3360
SL = 3127
Target 1 = 3826
Target 2 = 4059
23/09/2021
Bullish NSE:MPHASIS-->Mphasis Ltd.
Buy for short term
Momentum Play - Mphasis - @ 2848Can go long at current price and stay with trade until it break 2740 At closing basis ..
Mphasis breaks all time high and looks for a pull backBroke all time high and high possibilities of a pull back from a major trendline. Anyways looks like some juice is left for couple of trading sessions.
Mphasis stock analysisMphasis on a daily timeframes showed us a recovery from 2750 level by projecting a inverted head and shoulders pattern. If it is manages to close above 2930,we can initiate a swing position in it..
