MINDTREE is forming triangle pattern
NSE:MINDTREE large cap IT stock is forming triangle pattern.
Even though it breaks triangle's resistance, only after breaking US resistance, good up move can be expected in IT stocks.
However with trailing SL after strong break can be tired.
Also know this news:
NSE:MINDTREE and NSE:LTI to be merged.
Upon the scheme becoming effective, all shareholders of Mindtree will be issued shares of LTI at the ratio of 73 shares of LTI for every 100 shares of Mindtree. The new shares of LTI so issued will be traded on the NSE and BSE. Larsen & Toubro Limited will hold 68.73 % of LTI after the merger.
Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.
Profits are not made from following ideas, but by following Risk Management.
Even though it breaks triangle's resistance, only after breaking US resistance, good up move can be expected in IT stocks.
However with trailing SL after strong break can be tired.
Also know this news:
NSE:MINDTREE and NSE:LTI to be merged.
Upon the scheme becoming effective, all shareholders of Mindtree will be issued shares of LTI at the ratio of 73 shares of LTI for every 100 shares of Mindtree. The new shares of LTI so issued will be traded on the NSE and BSE. Larsen & Toubro Limited will hold 68.73 % of LTI after the merger.
Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.
Profits are not made from following ideas, but by following Risk Management.
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