LTIMINDTREE LTD

28 aug.LTIMINDTREE LTD
Pattern :- symmetrical triangle pattern.
[my pro signal dt: 28/08/2024]
A breakout from the triangle has occurred, suggesting a potential strong bullish movement.

Target :
The chart includes two projected target levels (1st TRG and 2nd TRG), indicating potential price targets post-breakout.
1)1st Target: Around INR 7,588.80
2)2nd Target: Higher, possibly indicating a significant upward move beyond the 1st target.

• Entry Point:
  
• Since the breakout has already occurred, an entry near the current level (around INR 6,127.55) could be considered. However, waiting for a minor pullback to the breakout level (around INR 5,900 to INR 6,000) might offer a better risk-reward ratio.
  

A conservative Stop-loss can be placed just below the lower boundary of the triangle, around INR 5,450. This would minimize potential losses if the breakout proves to be a false move.

Market Conditions and News:
Check for any news related to LTIMINDTREE LTD, such as earnings reports, management changes, or sector-specific developments. Such news can significantly impact the price and should be factored into the trading decision.
Broader market trends, such as the performance of the IT sector and the overall market sentiment, should also be considered.

• The breakout from the triangle pattern and the increasing volume are positive signs. If the broader market remains supportive and no negative news impacts LTIMINDTREE, the stock could reach its projected targets.
  

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"Disclosure : I am not Sebi-registered." This channel is for only educational purpose. Any profit/loss, I am not responsible.

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