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 IND- After a good runup, Now looking weak, SHORT expected below 338.00 for Initial Target of 330, 325. Close above 344 is strong for the stock & consider as SL.
CMP- 340.65
CDt:- 8-March'18
NSE:MINDAIND
-Broke out of a small inverted H & S pattern and held the retest.
-Consolidating nicely in a bigger inverted H & S pattern.
-Nice volume action.
-Long term ascending triangle.
-MACD Bullish cross.
Not an investment advice. Do your own due diligence.
-Stock broke out of a symmetrical triangle on huge volume.
-Stock is consolidating nicely while forming a bull flag.
-Stock also forming a long term ascending triangle.
-Bullish MACD.
-Stock should consolidate for a few days and then shoot higher IMO.
Not an investment advice. Do your own due diligence.
Minda Industries Limited is a supplier of automotive solutions to original equipment manufacturers. The Company offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others. Its business divisions include Lighting Systems Division, Switch & Handle Bar Systems Division, Acoustics Systems Division, and Sensors Actuators and Controllers Division. It also has business divisions, which are engaged in production of batteries for two wheelers, fuel cap and compressed natural gas (CNG)/liquid petroleum gas (LPG) kits. It is also engaged in the business of blow molding components and aluminum die casting. Its product portfolio includes alloy wheel, and brake hoses and fuel hoses. It manufactures switching system and handle bar solutions for two/three-wheelers in India. It develops electronic products, including start stop sensors, electronic accelerator pedal module (EAPM) and head lamp leveling motors.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
MINDAIND
