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Published on 14/09/2020 2:07:35 PM | Source: HDFC Securities Ltd

Momentum Pick - Buy Minda Corporation Ltd For Target Rs. 83 - HDFC Securities

Posted in Broking Firm Views - Short Term Report| #Auto Ancillaries Sector #HDFC Securities #Trading Report #Minda Corporation Ltd

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Momentum Pick - Buy Minda Corporation Ltd For Target Rs. 83 - HDFC Securities

Observation:

After showing a minor declines/sideways consolidation, the stock price has shifted into an upside bounce today.

Currently, the price is making an attempt to show upside move above the key upper resistance.

The short-term trend has turned positive.

We observe a formation of positive candlestick pattern as per intraday/daily timeframe chart.

Volume has started to rise along with the up move in the stock price.

The daily/intraday RSI is showing positive indication.

The overall chart pattern of PEL July Future indicates a short trading opportunity.

One may look to create long trading position as per the levels mentioned above.

Buy Minda Corporation Ltd @ 2-7 DAYS 71.50, 73.80 TGT 83 SL 70.4

 

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