MINDA CORP 1D
Entry Zone:
The current price action shows a potential reversal after a change of character (CHOCH) around the ₹540-550 range. The price is approaching the break of structure (BOS) and could retest the zone before moving higher.
Entry Point: A buy entry can be placed around the current consolidation zone near the ₹550 mark, or after a confirmed break above ₹560 with increased volume.
Support Zone (Order Block):
The order block (OB) is marked between ₹520 and ₹530. If the price retraces to this zone, it could provide a strong support level and a good buying opportunity for a swing trade.
Stop Loss: Place a stop loss below the order block at around ₹510, just below the lower end of the support zone.
Moving Averages:
The EMA 20/50/100 are key levels to watch. The price is currently above the EMA 100 (₹527.27), indicating potential support from this level.
A successful bounce from the EMA levels may further confirm the upward move.
Target Zones:
First Target: The initial target can be set around the previous high near ₹590-600.
Second Target: If momentum continues, the next target can be the swing high at ₹650.
Volume Confirmation:
Watch for increased volume at the breakout or retest of the BOS level (₹555) to confirm the move.
Swing Trading Setup Summary:
Buy Entry: Around ₹550 (or after a breakout above ₹560).
Stop Loss: ₹510 (below the order block and support zone).
First Target: ₹590-600.
Second Target: ₹650.
Key Indicator: Ensure the breakout or retest happens with higher volume for confirmation.
This setup leverages the technical analysis indicators, such as BOS, CHOCH, and the order block, combined with moving averages for a swing trade.
The current price action shows a potential reversal after a change of character (CHOCH) around the ₹540-550 range. The price is approaching the break of structure (BOS) and could retest the zone before moving higher.
Entry Point: A buy entry can be placed around the current consolidation zone near the ₹550 mark, or after a confirmed break above ₹560 with increased volume.
Support Zone (Order Block):
The order block (OB) is marked between ₹520 and ₹530. If the price retraces to this zone, it could provide a strong support level and a good buying opportunity for a swing trade.
Stop Loss: Place a stop loss below the order block at around ₹510, just below the lower end of the support zone.
Moving Averages:
The EMA 20/50/100 are key levels to watch. The price is currently above the EMA 100 (₹527.27), indicating potential support from this level.
A successful bounce from the EMA levels may further confirm the upward move.
Target Zones:
First Target: The initial target can be set around the previous high near ₹590-600.
Second Target: If momentum continues, the next target can be the swing high at ₹650.
Volume Confirmation:
Watch for increased volume at the breakout or retest of the BOS level (₹555) to confirm the move.
Swing Trading Setup Summary:
Buy Entry: Around ₹550 (or after a breakout above ₹560).
Stop Loss: ₹510 (below the order block and support zone).
First Target: ₹590-600.
Second Target: ₹650.
Key Indicator: Ensure the breakout or retest happens with higher volume for confirmation.
This setup leverages the technical analysis indicators, such as BOS, CHOCH, and the order block, combined with moving averages for a swing trade.
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