The stock is in a strong uptrend and once it sustains above 2800, expected to travel towards 3300-3400 which would be next target zone.
To motivate me, Please like the idea If you agree with the analysis.
InvestPro India Team
result will be announced on 29 july
stock trend is up
today shown move recovery from lows of approx two percent
holding imp level of 1100 mark
also stock is sideways from 3 days after a good upmove 3 day back !
i see trend continuation in stock going ahead
Currently RSI <70
IT stocks outperforming market
MACD signal line crossing MACD from below.
Hinting that still strength is left in IT stocks.
Stocks to look out for :
As We can See Mindtree Formed the ASCENDING TRIANGLE PATTERN this is Bullish Pattern which shows that the stock made good base and ready for up move ..
Buy Initiate Above- 2745
SL - 2715
Target - 2750/2790
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we can see good movement in these coming days in Mindtree as there is a good Q1 result today.
trade setup can be seen on either side.
levels are marked in the charts. Be strict with your profit booking once your get to one level. We can expect volatile trading.
Avoid trading in "No Trading Zone".
All the best.
Mindtree is seen having a RSI bearish divergence with Price making a Higher High whereas RSI making lower high. Further follow up need to be assessed before any decision can be taken. If one is on a trade in this stock, it's time to be vigilant for any counter trend move.
A very innovative strategy of 44 moving average + support lvls of trendline or u can say a good up trending channel :)
Well, one should always trade this pattern if u know how to manage the risk :)
risk should be the money = after losing it u don't feel sad.
Happy trading and be happy :)