Positional Call – Buy MINDTREE above 830 sl 790 target 930-1050 (even can hold till signal continue.)

holding period 1-2 month.

Technical findings – Stock is clearly trading above 200MA level, and hence its having 100 MA level near 830 level, so crossing this and closing above this will improve the chances of up move.

Trenline suggesting the heavy support at 790 level, as we can see on chart. rising from here may give a scope of breaking upper resistance trendline.

RSI study also indicating that stock is in uptrend, when stock was trading at 660 level its RSI bottom was 34.19 and recently when stock made bottom of 790 its RSI made low of 32.45.  its suggesting stock is looking for strong reverse move. its kind of positive divergence if we spot it clearly..

so above basic study inform us that stock is looking for reverse up move and we assume to hold it till its not reversing its signal upside. once it able to break and close below 790 level, then we need to exit from buy and stock can start down fall from there.

recent signals given in MINDTREE – MINDTREE given positional buy signal in oct 2011 @ 400 level and from there it done one-way movement till 930 level, till april 2013, so if it able to reverse from here then again we can see such up move in stock and that’s why we telling to hold you this one till its not giving any reverse signals.