MPHASIS - TRADE OPPORTUNITY ON LONG SIDE

2月28日

Symbol - MPHASIS

CMP - 2251

Mphasis, a global provider of Information Technology solutions specializing in cloud and cognitive services, leverages next-generation technology to assist enterprises in transforming their businesses worldwide.

Recently, Mphasis has experienced a decline due to selling pressures in Nasdaq and U.S. IT stocks, as well as negative data and news flow related to the IT sector. Currently, Mphasis is approaching a crucial support zone in the range of 2250–2180 which has held since July 2023

I anticipate a significant rebound from this level, which is why I am entering long positions in Mphasis Futures at the current market price of 2251. Should the price reach the 2200 range, I will consider adding additional positions. To manage risk, my stop-loss is set at 2170, providing protection in case the support zone fails to hold and the price moves lower. On the upside, I am targeting price levels of 2400 and 2500





Disclaimer: The information provided here should not be construed as a buy or sell recommendation. It reflects my personal analysis and my trading position. Please consider this trading idea for educational purposes only. Thank you!

3月4日

交易开始

Added more at 2200

Avg buy price is 2225 now
Holding with SL 2170

3月5日

注释

CMP 2325

Future position +100 rupees in profit.
Holding with cost SL now.

3月6日

注释

Reached 2370

+145 rupees in profit.

3月11日

交易手动结束

Closed at 2300 with trailing SL.
Future position closed +75 rupees in profit.

3月22日

注释

CMP 2430

Although I exited my position with trailing SL but target reached as anticipated.

3月25日

注释

Both targets were reached.