Topic Statement:

Mphasis has shown resilience despite the broader weakness in the Indian IT sector, oscillating between strong support and resistance levels.

Key Points:

• The stock faces stiff resistance near 3000, with the 23.6% Fibonacci retracement level at 2938
• It receives strong buying support around 2000, with the 50% retracement level at 2146 acting as a critical floor
• The price rarely dips below the 200-day EMA, and such instances have historically presented attractive investment opportunities

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Disclaimer

This article should not be interpreted as investment advice. For any investment decisions, consult a reputable financial advisor. The author and publisher are not responsible for any losses incurred by investors or traders based on the information provided.