Mindtree: The Bullish Bat

31 Jul 2017

I don't know why I reverse trade these patterns. But So far it has yielded handsome returns. A bullish bat seems to have been developing and PRZ is still far. The stock has been in a downtrend since June end, so why not take a trade in the direction of this trend rather than waiting for reversal.

A small downward sloping triangle seems to be developing. I don't say that it will break down but if it does I will go short below 475 with a stop of 486 for a possible target of 460. After that we may expect reversal.

Hit like if this information is useful.

Trade safe, stay healthy.

Best Regards
Bravetotrade

31 Jul 2017

Nota

May offer a trade tomorrow.

1 Ogo 2017

Nota

Short @ 476.20 SL 479.60

1 Ogo 2017

Nota

Its not a very liquid stock so careful before trading.

1 Ogo 2017

Nota

lot of congestion..ll burst anytime

1 Ogo 2017

Nota

Better manage stops

1 Ogo 2017

Nota

Here we go..decisive break below 475.

1 Ogo 2017

Nota

I ll cover partial @ 468

1 Ogo 2017

Nota

retesting 475 can't be ruled out so covering partial @ 471.25

2 Ogo 2017

Nota

Trail for my partial position is at 477

3 Ogo 2017

Nota

Since I have been holding a partial position short from 476.20, it would be wiser to cover at the latest support above 467 (shown in the chart).

With this note I have closed this position.
No more updates.

16 Ogo 2017

Nota

Finally, it worked. One can play for 484 as per own plan.