Mindtech Ltd- Rs.45/-

Above are the weekly charts of Mindtech limited, it has been consolidating at these levels for last six months. The first chart is the long term chart, it can be clearly seen that the stock has formed a triangle from 1999 onwards and it seems to have completed the pattern and broke above the sloping trend line for last 14 years and that too on volumes, which is a bullish signal as far as technicals are considered. it has been consolidating at these levels. it has broken above the sloping trend line for last 14 years moved above came down and touched the trend line and then started to move up on huge volumes, its a perfect technical setup with bullish alternative. The stock has been consolidating at these levels for last six months, look at the volumes over these period which are very huge which is a clear indicating that the informed buyers are buying into the stocks and we might see the stock  breaking above and we can expect the stock moving substantially from these levels. The long term technical break out of 14 years clearly indicates that we might see an all time high which happens to be above 500 levels. If we apply the triangle patter implications, the break out would be equal ant to the longest leg of the triangle which is 490, the break out is at 25 levels which points that we can easily see the stock moving towards 500 level which is 10 times from current levels. But safe case always stop loss below 25 levels to protect our capital.

M.Mahiidar

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Trend is Friend.