Hello Trader, Here is the full analysis of mindtree:
1) On 1hr chart we can see it as formed gartley pattern and possible reversal expected.
2) Price is moving toward strong resistance zone and can test this zone for up move and if it fails then on basis of gartley and strong resistance one can look for short.
How can you support me:
1) Like my idea.
MINDTREE has returned from 921 twice and now falling towards 875 levels..
according to Fibonacci retracement , AO indicator & RSI it is showing weak signs.. now it can fall till 835levels..next support..
buy near 835-840..
1. the trend is oversold condition.
2. The previous day it formed with a piercing signal.
3. next it confirmed with a huge bullish candle.
4. Good time to book for a long position.
5. Target=925 Stop loss=814
In a daily chart #Mindtree is in the bullish zone whereas the whole market is in the bear mood. One can go long at 928 which is a mild resistance. The current support is at 721 with strong resistance at 1018 levels. The profit potential of 9.7% in a very short span of time. Maintainance of strict position sizing is mandated, invest 10k for 1 unit of Mindtree.