We've waited too long for this and today it finally happened, it gave a breakout over the levels of 170, stock has a lot of potential for some serious gains. One more thing to notice, almost every time volumes have been very low when the stock has fallen and very high when the stock goes up which indicates the stock has been well accumulated in the lower ranges....
MINDTREE | Flag above the channel - But stretched above the area of value. However the flag consolidation looks convincing for 20-25% ahead of the results.
CMP : 1979
SL : 1920
Target : Open or Minimum 1:3 or Flag pole length size which is 25%
In an uptrend, when you buy in excess below value or somewhere in the bottom half of the value area, the take profit level is always at the control price. When an opportunity arises to buy just above the control, the take profit will be at the value high. The protective stop will always be below the tail of the smaller rejection value area on the lower time-frame...
Hindalco is just getting rejcted from the above trend line again and again, and getting support on below trend line....
Looking at current scenario it is clearly directing that price may go down till 185-190 regions ...
Tgts are : 196/192/188
SL 201
Hopefully, we may see price reversal at 185 , if that not happen we may see further more down side...
...
This time Nifty is going to take immense time to get settle for fresh rally to
break the Resistance of 9000 Points ( Failed to Break 2 times in Past) .
So investors have excellent opportunity to take a position in the
Range of 8300-8150.
