Mphasis

Mphasis after 27% fall on bad results during the result season has unable to recoup its losses. Technically looking it looks poised for breakout above 485 levels for short term.

Indicators are showing short term strength.

Buy above 485 Tgt 491,497 and 505

 

Nifty Hourly

Nifty as expected gave a bounce back from opening lows of yesterday and giving recovery but unable to cross Resistance of 5568 as mentioned in yesterday’s post.

For Today Nifty has made a range between 5520-5570 move above this only can give a directional move.

Nifty Weekly

As today is weekly closing Weekly 5 EMA @5553 should be watched closely.Close above this will be a Booster for Bulls.

Levels for Today

 

Buy above 5572 Tgt 5597,5618 and 5637

Sell Below 5545 Tgt 5520,5500 and 5480

Levels mentioned are Nifty Spot

 

TATA COFFEE

TATA COFFEE which we covered 30 May achived its 2 target yesterday. Now the stock is touching its upper end of trendline in downtrending channel as shown in the chart.

Time to get Caution with longs.Keep an eyes on volume near 875-880 range.

Buy above 874 Tgt 884,895 and 906