Mindtree, Breakout

29 Apr 2018The stock created a base at around 430. Then started moving in vertical line while breaking out the earlier highs interspersed with correction due to profit-booking. Now after the steep rise in recent days, there is some possibility of price pulling back towards 996 seeking for support. This level may be closely watched for going long. It is visible that 5 waves up are done as the technical resistance comes at 1104. We shall wait for corrective a-b-c. Going short in this highly bullish stock can be quite risky.