⚙️ Minda Corp Ltd. – Support Holds with Strength Indicators Aligning

Minda Corp shows a technical shift toward relative strength, as multiple supporting indicators turn favorable around a crucial price zone. The stock recently bounced from its prior resistance zone, now acting as support, while maintaining a constructive structure on both price and volume action. 🔹 Chart Observations Structure: The price successfully retested the earlier breakout zone near ₹540–₹550, which acted as a support base for the recent rebound. Trendlines: A breakout attempt above the long-term descending trendline is visible, with price consolidating just above it. RS (Relative Strength) vs CNX500: The RS line has crossed above zero and turned positive, confirming outperformance against the broader market (highlighted circle). OBV: The On-Balance Volume is steadily rising, indicating that accumulation is taking place even during consolidation. Volume: Recent price moves were accompanied by high volume, reinforcing conviction behind the support bounce. 30-Week SMA: Price comfortably trades above the SMA, reflecting improving medium-term structure. 🔹 Interpretation The confluence of positive RS momentum, rising OBV, and volume-supported bounce from key support suggests accumulation with relative market strength. Sustaining above the 30-week SMA would keep the broader trend constructive. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)