GUYS, SOME CONFIRMATION IS HERE BUT THEN BE MINDTREE GOES UP IGNORE THE SETUP.
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 UPSIDE FOR SOME CORRECTION IS NECESSARY.
5) TIMEFRAME IS 1DAY...
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.)
It 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
It is been observed on the daily chart that the price action breaks above the previous resistance of 508 levels, indicating buyers taking control over price action. Now, it may further go up to 520 levels to cover and fill up the previous Gap down. It shall also trigger a big trendline breakout from there on. Regards
Target 1: 520
Target 2: 525
It is been observed on daily chart that the price action shows a bullish hammer at major support levels indicating a buyers come back and a positive move ahead.
Target 1: 464
Target 2: 475
After a strong weekly breakout from the strong support levels of 600-610, it confirmed the continuation of a downtrend. It has retraced back to the previous support and now the support levels are acting as new resistance levels. I believe now the price action shall go down to the next support levels at around 475 levels. It is an ideal time to short with stop loss...