Very high probability of technical "Short term" bounce
Updated
Beaten down from Rs 4200, we hit demand level of Rs 2800. We should see a short term bounce to test the 200 Day SMA and previous support of Rs 3550. SL of Rs 2775 with Target 1 at Rs 3400 and Target 2 at Rs 3500 presents a nice risk to reward ratio of around 2.5:1 from current level of Rs 2971.
Long term, in next 8 months to a year, I see Mindtree heading to atleast 2000rs or below.
Long term, in next 8 months to a year, I see Mindtree heading to atleast 2000rs or below.
Trade closed: stop reached
Stop Loss hit.Disclaimer
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