Mphasis, after a downward consolidation, has moved up with a strong momentum. The sudden rise in price was backed by a spike in volumes.
A positive divergence is visible on the daily momentum indicator RSI (14) which suggests that there could be a positive shift in the price momentum.
In addition, a hammer kind of candle is visible on the weekly chart. Traders can accumulate the stock in the range of Rs 950–960 for the target of Rs 1044 and a stop loss below Rs 914.
Disclaimer: The author is a Technical Research Analyst at Bonanza Portfolio Ltd. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
We provide you sure shot Commodity & Equity Market Tips, Intraday tips, share market tips, Mcx bullion tips, Mcx tips, Crude tips, Stock tips, Future and Cash tips with Technical & Fundamental Research.
Visit: www.ripplesadvisory.com
Contact us @ +91-9644405056
No comments:
Post a Comment