Investment Ideas Stock Radar: Ascending Triangle pattern breakout makes Mphasis an attractive buy; stock up over 30% from April lows
Mphasis Ltd, an IT sector player, has broken out of an Ascending Triangle pattern, signaling potential gains. Experts suggest buying the stock with a target of Rs 3,000 within 1-2 months. Synopsis Mphasis Ltd. broke out from an Ascending Triangle pattern, signaling potential for an upward trend. After recovering from a low in April 2025, the stock surpassed its 200-day EMA. Experts suggest buying the stock with a target of Rs 3,000 within 5-7 weeks, supported by positive technical indicators like RSI and MACD.
Mphasis Ltd, part of the IT industry, gave a breakout from an Ascending Triangle pattern on the daily chart which has opened room for the stock to head higher.Short-term traders can look to buy stock for a target of about Rs 3,000 in the next 1-2 months, suggest experts.The IT stock hit a high of Rs 3,239 on December 12, 2024, but it failed to hold the momentum. It closed at Rs 2,688 on June 17, 2025 which translates into a fall of over 17%.The
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