In breakdown retest stock breaks down from it's support then it and gets rejected from it giving a confirmation that support has now turned into a resistance.
MIndtree right now has successfully retested it's breakdown point and gave confirmation of continuation of fall through follow up candle.
So, Sell trade can be initiated with SL of 4115.
One can aim his target at 3600 around. I personally will trail my Stoploss with no target.
MIndtree right now has successfully retested it's breakdown point and gave confirmation of continuation of fall through follow up candle.
So, Sell trade can be initiated with SL of 4115.
One can aim his target at 3600 around. I personally will trail my Stoploss with no target.
Trade closed: target reached:
Made low of 3588. Hence, target achieved. Since it gapped down I'm also closing my position.