MphasiS Limited (MPHASIS) Stock - Complete Technical Analysis - Oct 15, 2024

MphasiS Limited Stock Analysis Key Support & Resistance Levels for Traders

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 is currently trading at 2,930, reflecting a moderate decline from its 52-week high of 3,187.8. The stock remains 41.6% above its 52-week low of 2,069.1, indicating solid support near the lower levels. Recent price action suggests consolidation between 2,890 and 3,012, with no clear breakout yet. Technical indicators such as the RSI hovering around 47 show neutral momentum, while the ADX at 15 indicates a weak trend, suggesting that the stock may remain range-bound for now.

Momentum indicators like MACD reflect a bearish bias, while the Awesome Oscillator and Williams %R confirm ongoing weakness. Despite this, short-term moving averages such as the 10- and 20-day EMAs are showing some support around current levels, with prices nearing the 200-day EMA, which could act as a critical support zone. Traders should watch for any significant breakout above the 3,000 resistance, potentially driving bullish momentum, or a dip below 2,890, which could signal further downside.

The current volume-weighted moving average (VWMA) indicates that prices are slightly above recent average trading volume, suggesting stability. However, with the ATR pointing to heightened volatility, traders should be prepared for potential swings in the short term. Overall, the stock is at a pivotal point, with a move in either direction likely depending on broader market cues and technical strength near resistance levels.