Mindtree: The Bullish Bat

31 thg 7, 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 thg 7, 2017

Ghi chú

May offer a trade tomorrow.

1 thg 8, 2017

Ghi chú

Short @ 476.20 SL 479.60

1 thg 8, 2017

Ghi chú

Its not a very liquid stock so careful before trading.

1 thg 8, 2017

Ghi chú

lot of congestion..ll burst anytime

1 thg 8, 2017

Ghi chú

Better manage stops

1 thg 8, 2017

Ghi chú

Here we go..decisive break below 475.

1 thg 8, 2017

Ghi chú

I ll cover partial @ 468

1 thg 8, 2017

Ghi chú

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

2 thg 8, 2017

Ghi chú

Trail for my partial position is at 477

3 thg 8, 2017

Ghi chú

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 thg 8, 2017

Ghi chú

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