MPHASIS // LEVEL // 3H

19 Sep

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Let's dive into the 3-hour candlestick chart for Mphasis (MPHASIS), a global IT consulting company.

Here are some key insights based on the 3-hour chart:

Current Trend: Mphasis has been trading in a sideways trend over the past few hours, with a slight upward bias.

Resistance and Support: The stock has a strong resistance level at around ₹4,300-4,400 and support level at around ₹4,150-4,200.

Bollinger Bands: The Bollinger Bands are contracting, indicating reduced volatility in the stock.

Momentum: The RSI (Relative Strength Index) is around 50, indicating a neutral momentum.

Candle Patterns: The 3-hour chart shows a small bullish Engulfing pattern at around ₹4,250-4,270, which is a bullish signal.