MphasiS Limited (MPHASIS) Stock - Complete Technical Analysis - Sep 25, 2024

MphasiS Stock Analysis: Key Support & Resistance Levels Unveiled

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.

In this technical analysis of MphasiS Limited, currently trading at 3018.50, we see the stock positioned 5.31% below its 52-week high of 3187.8, reached on September 17, 2024. Its important to note that the stock is up 45.88% from its 52-week low of 2069.1, which occurred on October 26, 2023. The stock is showing mixed signals based on various technical indicators. The RSI is currently around 49.79, indicating that the stock is moving sideways and is neither overbought nor oversold.

The presence of an inside candle pattern recently suggests consolidation, which could precede a breakout. Key support levels to watch are around the 50-day and 100-day EMA, indicating potential bounce zones. Resistance levels are currently established near the recent high of 3187.8, and a significant breakout above this could lead to bullish momentum.

The MACD is showing positive divergence, which may signal a potential upward trend in the near term. However, the ADX indicates a lack of strong trend direction. Monitoring the momentum indicator will also be crucial, as it's currently negative, which might suggest caution for traders considering new positions. Overall, while there are bullish indicators, the market environment appears cautious, making it vital for traders to keep a close eye on price movements around these critical support and resistance levels.