Buy Mindtree above 4000

The stock bounce from 200 dma on daily chart and made a bullish pin type candle.

Trading above 4000 will activate this candle.

The IT company reported a 49 percent year-on-year (YoY) jump in net profit at Rs 473.1 crore for the fourth quarter ended March 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs Rs 317 crore. Its EBITDA margin of 20.9 percent and PAT margin of 15.7 percent have been their highest in a decade. Mindtree's consolidated revenue from operations grew by 37.4 percent to Rs 2,897.4 crore in during January-March 2022 from Rs 2,109.3 crore in the corresponding quarter of 2020-21.


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