Minda Corp: A Technical Breakout Story with Strong Fundamentals
The chart reveals a compelling multi-year growth trajectory. From 2013 to 2023, Minda traded within a well-defined upward channel, building a strong foundation between ₹100-400 levels. The real excitement began in 2023 when the stock broke out of a decade-long accumulation pattern.
The most significant technical development occurred in late 2024, when Minda consolidated in a rectangular pattern between ₹450-650 before breaking out decisively. This consolidation after a strong rally suggests healthy profit-booking followed by renewed institutional interest. The current price of ₹588 sits just above this breakout zone, indicating the beginning of a potential new leg upward.
Two ambitious targets have emerged from this technical setup:
Trend-based Target: ₹890 – derived from the measured move of the breakout pattern
Momentum-driven Possibility: ₹1,037 – an extended target if bullish momentum accelerates
The stock's ability to maintain above the ₹590 level (current resistance-turned-support) will be crucial for validating this breakout.
As a diversified auto component manufacturer with exposure to wiring harnesses, switches, alloy wheels, and increasingly EV components, Minda is well-positioned to benefit from both traditional automotive growth and the ongoing electrification trend. The company's partnerships with global OEMs and its expanding footprint in export markets provide additional growth levers.
The most significant technical development occurred in late 2024, when Minda consolidated in a rectangular pattern between ₹450-650 before breaking out decisively. This consolidation after a strong rally suggests healthy profit-booking followed by renewed institutional interest. The current price of ₹588 sits just above this breakout zone, indicating the beginning of a potential new leg upward.
Two ambitious targets have emerged from this technical setup:
Trend-based Target: ₹890 – derived from the measured move of the breakout pattern
Momentum-driven Possibility: ₹1,037 – an extended target if bullish momentum accelerates
The stock's ability to maintain above the ₹590 level (current resistance-turned-support) will be crucial for validating this breakout.
As a diversified auto component manufacturer with exposure to wiring harnesses, switches, alloy wheels, and increasingly EV components, Minda is well-positioned to benefit from both traditional automotive growth and the ongoing electrification trend. The company's partnerships with global OEMs and its expanding footprint in export markets provide additional growth levers.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.