Tuesday, 26 December 2017

LONG-TERM TIMEFRAME CONTINUES TO REMAIN UPWARDS IN MINDTREE


BUY MINDTREE ABOVE 605 TGT 612/625 SL 595

 

After showing correction from the higher level (799) since the long-term, now the stock is trading in the recovery phase for the medium term, it is likely to continue the upside move in near term with the crossing of the resistance level of 605 as the stock is managing to sustain above the level of 560.  It is likely to continue the positive movement with the breakout of the pattern at the levels of 620. 22 &55 and 200 days moving averages seen as support level with the RSI of 72, and also showing the breakout trendline. One may get the long-term targets of 625,700,750 in MindTree with the stop loss of 535. Thus the trend of the MindTree in the short term, medium term, and even the long-term timeframe continues to remain upwards.

DAILY CHART FOR MINDTREE:


 

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