MPHASIS

Technical Analysis

Limited has been in a short-term uptrend since April 2025, forming higher lows while respecting a rising trendline. Recently, the stock attempted to break out above the crucial resistance zone near ₹2,748–2,752 but failed to sustain and has now slipped below the ₹2,700 psychological mark. The latest candle shows rejection from the higher levels with increased bearish momentum, closing at ₹2,656.40. The stock is now approaching the confluence of the trendline and horizontal support near ₹2,637–2,640. Holding above this zone is critical for the bullish structure to remain intact; a breakdown could trigger a corrective move toward ₹2,550–2,500, while a bounce may offer a fresh opportunity to reclaim ₹2,700+.