Buy MPHASIS LIMITED (NSE: MPHASIS )

19 Jan

Buy MPHASIS LIMITED (NSE: MPHASIS )

 

  • The stock has been trading as per the Momentum Triple Pattern theory in all time frames such as daily, weekly and monthly chart which indicates that the trend is up and the stock could further accelerate its upside movement.
  •  On a daily chart, the stock has tested a strong support of its 50 days exponential moving average which caused for a bounce back move in the stock.
  • On a weekly, the stock has given a breakout with healthy volume activity and made its all time high level which show positivity in the counter.
  •  A daily momentum indicator RSI reading is at 71.09, trending in an overbought zone which points out for a positive breath in the stock.
  •  Based on above technical structure, we are expecting a good upside movement in the counter for the upcoming trading session.

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