Buy MindTree with a target at Rs 1000 in 6 months: Systematix Shares & Stocks

Systematix Shares & Stocks recommends a buy rating on MindTree with a target of Rs 1000 and a stop loss at Rs 600 based on technical parameters in a time period of 6 months.

Mindtree recorded a high of Rs 795 in April 2015 and then fell sharply up to Rs 575. Thereafter, it moved into consolidation between Rs 800 and Rs 600. Recently, the stock reacted sharply downward from Rs803 and then gave an immediate pullback from Rs 603 -- this has happened on a comparatively higher volume.

This indicates strong buying activity at the lower level of the range at Rs600. Investors can buy the stock at the lower levels of Rs695-685, and keep a stop loss at Rs600 on a closing basis, with a target is Rs900-1,000 in a time period of six months.