NeeteshJain

Mindtree - Weak Since The BIG Breakout (Contd Down Trend)

Short
BSE:MINDTREE   MINDTREE LTD
After a strong weekly breakout from the strong support levels of 600-610, it confirmed the continuation of a downtrend. It has retraced back to the previous support and now the support levels are acting as new resistance levels. I believe now the price action shall go down to the next support levels at around 475 levels. It is an ideal time to short with stop loss of previous high on weekly chart (680) Target (475) Risk Reward (1:2)


(This is on request, by Rajat (la4440), hope it may be of any help to you).
Trade closed: target reached: I was great trade, went so well. Targets achieved successfully. Regards