Stop loss can be maintained at 505 levels on MindTree: Ranak Merchant

In a chat with ET Now, Ranak Merchant, Technical Analyst, Sushil Financial Services Private Limited, talked about MindTree. Excerpts:

MindTree on the charts?

MindTree has seen a breakdown from its 200 dma of 558. Currently at 538 it can find minor support near 525 levels but 507 would be a good support if anyone wants to go long on the stock so may be by between 525 to 507 for an initial target of 558 and a stop loss can be maintained at 505 levels for that.