What to do with Mindtree stock at 689?

[sirji]

Hi,

I bought Mindtree stock a month or so ago when it's price was around 689, I saw it decline drastically in the past few days (though it is recovering post budget).

Was I too patient? What should I do with Mindtree now that it is trading at 549.

I have 10 shares of mindtree.

 

[saivenkat]

Hi,

I bought Mindtree stock a month or so ago when it's price was around 689, I saw it decline drastically in the past few days (though it is recovering post budget).

Was I too patient? What should I do with Mindtree now that it is trading at 549.

I have 10 shares of mindtree.

You are lucky, the same old story for me, it was the time when i traded without strict stop losses, i bought it at 825 levels and in the crash of 2007, it came to 200 levels, now it is creeping inch by inch.

It has strong resistances at 587- 618- 643- 689. I think you have bought at the strongest resistance level of 689 ( 61.8% of Fib resistance)

You can better leave the scrip as such, and concentrate on other stocks,and this is purely my view. You may please get the views of senior members here, and act on it.

Regards
Saivenkat.

 

[sirji]

I wish I could set stop loss which would last for more than a day! Sadly in Sharekhan, the stop loss value is valid only for a day and I have to reset it every day which is a pain if you are managing many stocks!

I am not a day trader and want to know if this investment will pay off in the long run..

 

[saivenkat]

All stoplosses that one set in day, gets nullified at the end of the day, be it sharekhan or any other broker.