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Unite Technologies Financial

29th Jul · SEBI-Registered Analyst

Technical Analysis of Minda Corp. Ltd. (MINDACORP)

The STOCK $MINDACORP is daily chart shows a powerful bullish breakout. After trading in a choppy sideways range for several months the stock saw a massive upward surge starting around May/June. Currently, after hitting a peak near the 720 level the price is undergoing a normal consolidation or pullback phase and is trading around 688. Immediate Resistance the recent swing high around the 720 mark is the immediate hurdle. A strong daily close above this level could signal a continuation of the primary upward trend. Immediate Support the stock is currently trying to find support near the 676-680 zone. If it slips further the next logical support is around the 640 level where the initial breakout rally paused. Major Base the 505.30 level marked on the chart acted as a very strong base during the previous market structure. For short-term buyers initiating a trade near the current 688 level requires strict risk management, so keeping a stop-loss slightly below the 676-680 support zone is crucial. Current holders should continue to maintain their positions by trailing their stop-loss as the strong bullish momentum remains perfectly intact despite this minor cooling-off period. A strong daily close above the recent 720 resistance will act as the trigger for the next upward rally offering a fresh entry point.

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