Good Swing Opportunity in MINDTREEMindtree has taken support at the support line and has given a positive up move in the past few days.
One can plan for a buy based on the given details on the chart.
Note: This idea is for education purposes only
About MINDTREE
Sector
Headquarters
Bangalore
Website
Founded
1999
ISIN
INE018I01017
Mindtree Ltd. engages in the provision of digital transformation and technology services. It operates through the following segments: Retail, CPG and Manufacturing (RCM); Banking, Financial Services and Insurance (BFSI), Communications, Media and Technology (CMT), Travel, Transportation and Hospitality (TTH), and Healthcare. The RCM segment offers services for food, beverages, household and personal care products, sports goods, footwear and apparel, consumer durables, and pharmaceutical consumer firms. The BFSI segment is composed of banks, cards and payments networks, capital markets institutions, property and casualty carriers, and life and annuity insurance firms. The CMT segment includes media firms, broadcasters, publishers, gaming developers, advertising agencies, and information services providers. The TTH segment represents airlines, hotels, cruise lines, travel service providers, car rental firms, and real estate companies. The Healthcare segment refers to the services provided to payers, providers and medical device companies. The company was founded on August 5, 1999 and is headquartered in Bangalore, India.
BUY Opportunity MINDTREEGood Opportunity to Short term swing trade Mindtree as it has taken support at the trend line.
MINDTREE IS FORM RISING WEDGE CHART PATTERN.GUYS, SOME CONFIRMATION IS HERE BUT THEN BE MINDTREE GOES UP IGNORE THE SETUP.
CONFIRMATION :
1) MINDTREE FORM RISING WEDGE BEARISH CHART PATTERN.
2) RSI INDICATING OVER BOUGHT.
3) STOCK IS TRY TOO MANY ATTEMPT TO BREAKOUT UPSIDE BUT TOO MANYTIME GET FAILED.
4) CONTINUES NO ONE STOCK GOES UPSID
Long Mindtree (95% sure)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.)
MINDTREE - AT STRONG SUPPORT, WILL BOUNCE BACKIt is been observed on the daily chart that the price action is taking strong support at 480-78 levels and now breaking above the support zone in order to fill up the previous gap down on the chart.
Target 1: 490
Target 2: 500
Stoploss: 475
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