Mphasis Ltd

NSE :MPHASIS   BSE :526299  Sector : IT – Software

About Company: Mphasis Limited is a information technology solution provider in cloud and cognitive services. The Company’s segments include Banking and Capital Market, Insurance, Information Technology, Communication and Entertainment and Emerging Industries. The geographical segments include United States of America, India, Asia Pacific and Europe, Middle East and Africa. It offers cloud computing, cognitive solutions, digital services, securing businesses, application services and infrastructure services. The Company serves various industries such as banking and capital market which includes, retail banking, credit cards and payments, wealth management and brokerage, corporate banking solutions and investment banking technology. Its insurance industry includes, property and casualty, life and retirement and health. Its other industries consist of communications, energy and utilities, healthcare, life science, logistics, manufacturing and travel and transportation.

Daily Chart of Mphasis Limited:

Technical Outlook of Mphasis Limited:

Mphasis limited share prices hit an all time high in today’s trading session. Stock gained 8.42% and closed at 2375.50 on NSE. Mid Cap IT Stocks were in demand today. Stocks like Mindtree, Coforge (NIITTECH), Happiest Minds Technologies were among the top gainers in the IT space.

Mphasis stock broke out of “Channel Pattern” as clearly visible on the charts. Stock has outperformed Nifty Index. Momentum in the stock may continue on the upside. As stock has entered uncharted territory further up move is likely to be seen in the stock in the next couple of trading sessions.

We suggest accumulating stock for investment around 2310-2320 for the target of 2500. Stop loss should be placed below 2195.