Mphasis Ltd. – Technical Outlook

Mphasis has shown a strong recovery from the recent lows near ₹2,130–2,150 and is currently trading around ₹2,375. The stock has reclaimed its 20 EMA (₹2,271), 50 EMA (₹2,276), and 100 SMA (₹2,273), indicating that short-term momentum has turned positive. However, the stock is still trading below the 200 SMA (₹2,542), which keeps the long-term trend neutral to slightly bearish. The chart suggests that ₹2,320–2,340 is now acting as an immediate support zone. As long as the stock sustains above this level, the recovery can continue towards the next resistance levels. The RSI is around 60, reflecting improving buying momentum without entering the overbought zone, which leaves room for further upside. On the upside, ₹2,430–2,480 is the immediate resistance zone, followed by the major hurdle near the 200 SMA at ₹2,540. A decisive close above ₹2,540 could trigger fresh buying interest and open the doors for ₹2,650–2,750 in the medium term. On the downside, a break below ₹2,320 may invite profit booking, with the next support placed at ₹2,270 and then ₹2,130. Technical View Trend: Short-term Bullish | Long-term Neutral Support: ₹2,320 / ₹2,270 / ₹2,130 Resistance: ₹2,430 / ₹2,480 / ₹2,540 RSI: 60 – Positive Momentum Strategy: Buy on dips while the stock holds above ₹2,320, with an upside target of ₹2,480–2,540. A sustained breakout above ₹2,540 would strengthen the bullish outlook further.