MphasiS Limited (MPHASIS) Stock - Complete Technical Analysis - Dec 26, 2024

MPHASIS: Bearish Trend & Key Support Levels

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

MphasiS Limited (MPHASIS) currently trades at 2,931, indicating a bearish market sentiment. While the MACD is positive, it's on the verge of a bearish crossover, hinting at upcoming downward pressure. The RSI at 39.35 shows the stock is not oversold yet, potentially offering opportunities for those expecting a rebound. The ADX at 24.08 confirms a trend is forming, likely bearish given the context. The stock price is below all key moving averages, pointing to a bearish trend across both short and long terms. Recent price action has shown high volatility, with a sharp drop on December 20th, which might indicate a pivot or continuation of the downtrend. Support could be near 2,800, with resistance around 3,100. The ATR's fluctuations suggest ongoing market volatility, setting the stage for either a significant price movement or a period of stabilization. Traders should monitor for any reversal signals at support or confirmations of bearish continuation at resistance to guide their trading decisions.