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Mindtree - Powerful bullish chart
Mindtree
CMP 702
Targt 805 plus
Stop 600
Monthly (not displayed)
Clear Double bottom formation completed.
Weekly(displayed)
Stock has cleared past the upward channel with huge volumes.
Stock has also moved past previous longterm multi support and resistance line.
Daily (not displayed)
Uptrend with spike observed. However, quite unclear in terms of any pattern formation.
THIS CHART IS A PERFECT EXAMPLE TO ILLUSTRATE THE SIGNFICANCE OF UNDERSTANDING THE BROADER PICTURE USING LONG TERM CHARTS INORDER TO DECIDE ON THE DIRECTION OF THE TRADE. SHORT TERM CHARTS ARE TO BE USED ONLY FOR ENTRY AND NOT TO DECIDE ON DIRECTION.
CMP 702
Targt 805 plus
Stop 600
Monthly (not displayed)
Clear Double bottom formation completed.
Weekly(displayed)
Stock has cleared past the upward channel with huge volumes.
Stock has also moved past previous longterm multi support and resistance line.
Daily (not displayed)
Uptrend with spike observed. However, quite unclear in terms of any pattern formation.
THIS CHART IS A PERFECT EXAMPLE TO ILLUSTRATE THE SIGNFICANCE OF UNDERSTANDING THE BROADER PICTURE USING LONG TERM CHARTS INORDER TO DECIDE ON THE DIRECTION OF THE TRADE. SHORT TERM CHARTS ARE TO BE USED ONLY FOR ENTRY AND NOT TO DECIDE ON DIRECTION.
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