Important Psychological level for Mindree is mentioned on chart.
Most probably it will give a breakout in upside.
Target would be 960-967 in coming days.
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MindTree is presently is getting squeezed for one more break-out
if it breaks out on long - target would be 1031.5
if it breaks down on short side - target would be 950
Lets see how it plays out in next couple of days
The daily candle on Mindtree printed a nasty Bearish Pinbar at a Major swing high Resistance. Expecting drop to continue.
Enter at the break of the Pin Bar or at a 50% retrace level since the stop loss www.tradingview.com coming out unfavorable. This is a Swing Trade.
MINDTREE - SHORT - 15MIN CHART
SELL @ 905 & SL @ 915
TARGET - 885
NOTE: This chart is only for educational purpose , these are not Recommendation of any kind and you will be fully responsible for your own actions
IT IS CURRENTLY RESPECTING TREND LINES SO NOW IT MUST TAKE RESISTANCE FROM UPPER TREND LINE BUT IF IT IS BREACHED ON CLOSING BASIS GAP WILL BE FILLED OR IF TAKEN RESISTANCE FROM TREND LINE IT MIGHT COME ALL WAY DOWN
NOTE: TRADE AT YOUR OWN RISK
MINDTREE EQUITY CASH (LONG ONLY): The stock seems to form a base as of now. On the charts we can see that it is hovering into 60-40 zones which indicate a shift of range from bear to neutral. Along with momentum as well prices are taking support now. Keeping a stoploss of 666 stock can be accumulated for a minimum target of 810. The prices may face a little...
MINDTREE: On 18th July the gap down seems to be a exhaustion gap. Post gap the price did not fall aggressively down, prices started to create higher lows. The RSI has moved into neutral zones from bearish zone. There are early indications of bottoming out in the stock. Holding above 707 will be a good sign of support.