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

Comments

Sir any view on Mindtree now I am long in it bought today
+1 Reply
NeeteshJain morphousd


It is trading at the previous resistance levels and now acting as supports levels. You may buy it but keep a SL at 415 levels. Incase the price goes and closes below 415 levels then it shall further continue to fall. In case you see any bullish candlestick around 415-420 levels on daily chart, it may signal buyers come back and a good time to enter the stock. Regards
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morphousd NeeteshJain
thx bro
Reply
thank you sir :)
+1 Reply
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