Hello and welcome to this analysis on Mphasis.
In the daily time frame its been in a sideways trend now for quite some time forming an Ichimoku P Wave.
We can see each swing zone has a 3 leg structure testing the 2 trendlines.
Currently it appears to be ending the 1st leg of the the last wave down (likely), a small bounce back from the current level and then the final leg of Wave E near to the lower trend line should complete this P wave triangle
Results are scheduled to be due end of the month. By then it is likely to complete what would be the end of a Price and Time correction in it.
Until then stock will continue to remain in a narrow range.
View would be wrong if the swing low at Wave C is broken. Alternatively if a turn from here breaks the upper trendline then will consider this low as end of Wave E.
In the daily time frame its been in a sideways trend now for quite some time forming an Ichimoku P Wave.
We can see each swing zone has a 3 leg structure testing the 2 trendlines.
Currently it appears to be ending the 1st leg of the the last wave down (likely), a small bounce back from the current level and then the final leg of Wave E near to the lower trend line should complete this P wave triangle
Results are scheduled to be due end of the month. By then it is likely to complete what would be the end of a Price and Time correction in it.
Until then stock will continue to remain in a narrow range.
View would be wrong if the swing low at Wave C is broken. Alternatively if a turn from here breaks the upper trendline then will consider this low as end of Wave E.
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