Keep a target of 696 in MphasiS: Hemant Kale, Maia Financial Services
The longer term averages are facing upward.
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| Hemant Kale, MD, Maia Financial Services, in a chat with ET Now talks about MphasiS.
What are your thoughts on MphasiS? You have buy call on this one with target 696.
MphasiS has been in corrective formations for sometime now and it is going to breach this corrective formation and come out of this corrective formation. If I look at the longer term averages - 150 and 200 - they are facing upward and well separated suggesting that a lot of investor confidence is getting built up.
The intermediate average is 30-45-60 coming out of compression suggesting that there is going to be lot of renewed activity of position traders. So this positive outlook - position traders along with support of investors - will actually take more action if we get a conclusive close above 664. Currently you can buy this stock, keep a stop loss of 635 with a target of 696.
What are your thoughts on MphasiS? You have buy call on this one with target 696.
MphasiS has been in corrective formations for sometime now and it is going to breach this corrective formation and come out of this corrective formation. If I look at the longer term averages - 150 and 200 - they are facing upward and well separated suggesting that a lot of investor confidence is getting built up.
The intermediate average is 30-45-60 coming out of compression suggesting that there is going to be lot of renewed activity of position traders. So this positive outlook - position traders along with support of investors - will actually take more action if we get a conclusive close above 664. Currently you can buy this stock, keep a stop loss of 635 with a target of 696.
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