Bravetotrade
Short

Mindtree: The Bullish Bat

NSE:MINDTREE   MINDTREE LTD
I don't know why I reverse trade these patterns. But So far it has yielded handsome returns. A bullish bat seems to have been developing and PRZ is still far. The stock has been in a downtrend since June end, so why not take a trade in the direction of this trend rather than waiting for reversal.

A small downward sloping triangle seems to be developing. I don't say that it will break down but if it does I will go short below 475 with a stop of 486 for a possible target of 460. After that we may expect reversal.

Hit like if this information is useful.

Trade safe, stay healthy.


Best Regards
Bravetotrade
Comment: May offer a trade tomorrow.
Comment: Short @ 476.20 SL 479.60
Comment: Its not a very liquid stock so careful before trading.
Comment:

lot of congestion..ll burst anytime
Comment: Better manage stops
Comment: Here we go..decisive break below 475.
Comment: I ll cover partial @ 468
Comment: retesting 475 can't be ruled out so covering partial @ 471.25
Comment: Trail for my partial position is at 477
Comment:

Since I have been holding a partial position short from 476.20, it would be wiser to cover at the latest support above 467 (shown in the chart).

With this note I have closed this position.
No more updates.
Comment: Finally, it worked. One can play for 484 as per own plan.


Is it a short or a long ?
Reply
Bravetotrade ZuzarLakdawala
@ZuzarLakdawala, :) Its up to you..I am short.
Reply
Bravetotrade ZuzarLakdawala
@ZuzarLakdawala, you can wait for breakout and trade in that direction.
Reply
sanjoy.bose.it Bravetotrade
@Bravetotrade, Waiting now is a good thing, as it will give a direction by another day or two...
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ZuzarLakdawala sanjoy.bose.it
@sanjoy.bose.it, What should be the target ?
Reply
Bravetotrade ZuzarLakdawala
@ZuzarLakdawala, Its mentioned..460; but its always good to cover partial at some mid target.
Reply
Bravetotrade ZuzarLakdawala
@ZuzarLakdawala, oops..that question was not for me :)
Reply
ZuzarLakdawala Bravetotrade
@Bravetotrade, It was for you ... it was my mistake ... got tagged with someone else .... :)
Reply
Bravetotrade ZuzarLakdawala
@ZuzarLakdawala, no issues.
Reply
sanjoy.bose.it Bravetotrade
@Bravetotrade, np man, your post deserves your answer and @ZuzarLakdawala I'm long in this trade (with averaging at 460-65, if comes), medium term and my target when picked up the pace on long sides will be 1.68% of A-D Leg. IMO purely and no trading advice...
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