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Published on 14/03/2019 5:25:22 PM | Source: Choice Broking Pvt Ltd

Buy Mindtree Ltd For Target Rs.1026.50 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Mind Tree Ltd #IT Sector #Trading Report #Choice Broking

 

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* On a daily chart, the stock has given a breakout of its Upper Ban of Symmetrical Triangle formation with aboveaverage volume which indicates a robust upside movement in the counter.

* Moreover, the stock has been trading above its 21 & 50 Days Moving Average which suggests a positive momentum in the counter.

* Furthermore, since the last few trading session, the volume activity is gradually increasing with rise in price which shows an accentuated buying activity in recent days.

* A daily momentum indicator RSI reading is at 65.05 level with a positive crossover which points out for a positive breath in the counter.

* Based on the above technical structure, we are expecting an upside movement in the counter in an Approx. one week.

Recommendation

Buy Mindtree Ltd @940.60-950.10 Stop Loss 912.00 Target 1026.50 CMP 950.10

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