MINDACORP- A Momentum Stock that Rallied more than 7% in 2 days!
Jan 16, 2025
When combining basic price patterns with technical indicators like MACD (Moving Average Convergence Divergence), one can effectively capture significant movements in stocks. See how we chose Mindacorp, which has increased by over 7% in just 2 trading sessions
We published the following research on Minda Corporation Ltd on 15th January 2025 in the “Vayu Momentum Report” which our subscribers receive pre-market every day.
MINDACORP Daily chart Anticipated as on 15th January 2025
Wave Analysis as on 15th January 2025:
In the previous session, Minda Corporation closed on a positive note with a gain of more than 6%. The stock is trading within a rectangular range since October 2024 which suggests accumulation in the stock. Currently, the stock is trading near resistance i.e. near 552 levels. A break above 552 can suggest breakout of the said pattern which can result into fresh rise in this stock. Also, MACD has recently given a bullish crossover and is trading above the zero-line suggesting likelihood of a continued uptrend.
Key Resistance – 600
Key Support – 530
Trading Strategy – Long positions can be created above 552 levels with the stoploss of 530 and target of 575 followed by 600 levels.
MINDACORP Hourly chart Happened as on 16th January 2025
Happened: The stock moved as expected. Mindacorp showed a rise of more than 7% despite major indices falling and achieved our first target of 575 levels and made a high of 591 levels which is near our 2nd target.
It is fascinating to see how accurately combining basic indicators along with price action can help to predict price targets with accuracy.
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