“Mphasis – Testing the Big Resistance Zone”

📊 Technical View 1️⃣ Price Action: CMP: ₹2,951.80 (+3.62%). Stock has made a V-shaped recovery from ~₹2,700 back to the major resistance zone of ₹2,950–3,000. This is a triple-top level (tested in July & early Aug, now again). 2️⃣ Volume Behavior: Today’s rally came with good volume pickup → indicates genuine buying interest. Previous rejections at this level were on low volumes → now bulls look stronger. 3️⃣ Key Levels: Resistance Zone: ₹2,950–3,000 → breakout above this with volume can open a move to ₹3,150–3,250. Immediate Support: ₹2,850 → short-term pivot. Breakdown Risk: Below ₹2,800 → weakness may drag stock back to ₹2,650. 🚀 Learning Takeaway When a stock retests a resistance multiple times, the probability of a breakout increases. But, confirmation must always come with closing strength above resistance + volume expansion.