Almost 42% correction in this stocks , forming a double bottom at 266 with a clear divergence in rsi amd Macd .
Wait for breakout to happen above 390 and 455 on weekly basis to add new positions.
This is stock to watch as stock is still above 200WEma
MINDA IS FORMING INVERTED H&S AT 50% RETRACEMENT OF LAST HUGE RALLY FROM 110 TO 400+.
BUYING MAY BE CONSIDERED IN THE ZONE 305-318 KEEPING STOP LOSS AT 298.
ONCE IT REVERSES UPWARDS FROM 320 OR SO, IT MIGHT CROSS NECK LINE AND TRY TO REACH 400 AND 418.
IT IS TIME CONSUMING. PATIENCE WILL PAY.
Minda Industries Ltd. engages in the manufacture of auto components, including electrical parts and accessories; and provision of ancillary services. Its products include switches, horns and electronic, and components and lightings for automobiles. The company was founded on September 16, 1992 and is headquartered in Gurgaon, India.
MINDAIND
