Mindtree closed at Rs. 970 on Friday, confirming a classic rising wedge breakdown – a bullish-to-bearish pattern. The share, however, picked up a bid today and rose to Rs. 981.75, weakening the immediate bearish view.
The path of least resistance, however, is still the downside and the rising wedge breakdown would gain credence once the price falls below Rs....
Mindtree become selling trend. if you are going to trade in derivative kindly put buy and in case you trade Intraday cash kindly sell with Resistance value .
VIEW:
Currently@resistance. Moving above current price may lead to 1005 which is Trend line resistance.Any breakout from there leads to 1028.Unless trend line resistance is not crossed on closing basis, chances of profit booking.
one more bullish day can set good upside move in this stock breaking the range
great stock in IT space current valuation are not cheap and not that higher i guess getting for a good rally ,
In Next phase
MOMENTUM TRADE IN MINDTREE
MARCH FUT
FALLING DOLLAR
FALSE BREAKOUT
DARK CLOUD COVER
BREAKING SUPPORT ON DAILY
FUT TRADE
SHORT@922
STOP@937
TARGET@900
LOT:600
QTY:1
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NSE:MINDTREE
MindTree Ltd : This counter has confirmed breakout from months of consolidation.
If starts trading above Friday high then we can expect good up move.
Buy 907
Target 1 - 1950 , Target 2 - 1980 , Target 3 - 1000
SL 880 (NOTE: If candle will go to 907 and retrace up to 900 on same day and closes below 900 then i will suggest to book loss of 6-7 rupees per share.)
BTST IN MINDTREEE(CONDITIONAL)
JAN FUT
MUST BREAK THE BEARISH TRENDLINE ON CLOSING BASIS
RISKY TRADERS CAN CREATE POSITIONS IN OPTIONS
BUY@865 (CLOSE ABOVE 864)
STOP@840
TARGET@900
LOT:600
QTY:1
