Mphasis – Preemptive Rounding Bottom Breakout Setup

💻 Mphasis – Preemptive Rounding Bottom Breakout Setup

Mphasis has been consolidating sideways for 5 months, holding strong support around ₹2600.
With the IT sector showing bottom formation and early signs of trend reversal, Mphasis is positioned for a potential big upside breakout.

📌 Trade Plan (Positional):
• CMP: ₹2797
• Stop Loss: ₹2590
• Targets: ₹2950 / ₹3153 / ₹3659

📍 Bigger Structure Insight:
• Major rounding bottom breakout level sits at ₹3659
• If the breakout above 3659 sustains, the rounding bottom target extends to ~₹5659
• Price structure tightening → momentum buildup likely
• Strong base formed over months + sector recovery setup

This is a positional trade, may be slow, but structure is strong for long-term upside.


⚠️ Clarification:
This is an independent analysis based purely on technical & market study.
Religare Broking Limited is not involved in this view or recommendation.

📝 Important:
I am not responsible for any profit or loss. No fees are charged — purely educational.

📉 Disclaimer:
Not SEBI-registered. Please do your own research.