Mphasis . Stock Sees Temporary Dip, Remains a Strong Buy in IT Industry

Mphasis ., a leading IT software company, has recently seen a dip in its stock price. On October 21, 2024, the company's stock fell by -3.24%, underperforming the sector by -1.56%. However, this is not a cause for concern as the stock has been performing well in the past few months.

According to MarketsMOJO, a leading stock analysis platform, Mphasis . is still a 'Buy' call. The stock has been trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend.

On the day of the dip, Mphasis . touched an intraday low of Rs 3009, which is a decrease of -2.81%. This could be seen as a trend reversal as the stock had been on a consecutive gain for the past 2 days.

In comparison to the overall market performance, Mphasis . has seen a -3.46% decrease in its stock price, while the Sensex has only seen a 0.12% increase. However, over the past month, Mphasis . has outperformed the Sensex with a -1.29% decrease compared to the Sensex's -3.81% decrease.

Overall, Mphasis . remains a strong player in the IT software industry with a largecap size. The recent dip in its stock price could be seen as a buying opportunity for investors, as the company continues to show positive performance and trend.