UNO Minda – Short Term trade setup

Bias: Bullish (breakout + OI support + volume confirmation) Entry Zone: Fresh entry on dips near ₹1,200–₹1,210 (close to breakout retest). Aggressive traders can even enter at CMP ₹1,219. Targets (short term, 1–2 weeks): T1: ₹1,250 T2: ₹1,270 T3 (extended): ₹1,300–1,320 if momentum sustains. Stop-loss: ₹1,160 (closing basis) → just below breakout + put writers’ strong defense. 🧩 Why Trade Looks Favorable Technical Breakout: Above multi-month resistance, volume-backed. Derivatives: Put writing at 1200, PCR > 1 → supports upside. Momentum: RSI in strong zone (~72), confirming strength. Sector Support: Auto ancillary theme is attracting flows with EV orders + premiumization tailwind. ⚠️ Risks to Watch RSI is near overbought → could face profit booking around ₹1,250–₹1,270. If price closes below ₹1,160, breakout fails → exit immediately. Broader market correction (Nifty/Auto index) may weigh down.