Mindtree: The Bullish Bat

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

Comentário:

May offer a trade tomorrow.

Comentário:

Short @ 476.20 SL 479.60

Comentário:

Its not a very liquid stock so careful before trading.

Comentário:

lot of congestion..ll burst anytime

Comentário:

Better manage stops

Comentário:

Here we go..decisive break below 475.

Comentário:

I ll cover partial @ 468

Comentário:

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

Comentário:

Trail for my partial position is at 477

Comentário:

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.

Comentário:

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