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Sunday, August 28, 2011

Mphasis ---in troubled waters

MPHASIS, an HP Company, looks to be in trouble. Declining profits and revenues , conflicts with the parent company and global slowdown.  Shares have been in free fall. Chart below shows that the last close was below important level of 372. That was also the 61.8% retracement from the highs. If the RED trend line is taken out , the next support comes at 260 area, which looks more likely now .

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