UnoMinda - Trendline Resistance, Profit booking canhappen.

$UNOMINDA UNO Minda is facing a key descending trendline resistance on the weekly chart. The stock has been consolidating within a broad contracting structure after its earlier uptrend, and the current price around ₹1,238 is still below that resistance. I would treat ₹1,280–₹1,300 as the important breakout zone; a decisive weekly close above the trendline would signal that the consolidation is resolving on the upside. For now, the safer approach is to avoid anticipating the breakout and wait for confirmation. The immediate support is around ₹1,100–₹1,120, while the lower end of the consolidation sits near ₹950–₹1,000. So the setup is simple: buy only on a sustained breakout above ₹1,300; until then, wait and watch. The fundamental backdrop is supportive, with recent results beating expectations and consensus earnings estimates being revised higher, but the chart still needs to confirm the next leg higher.