MINDA CORP: Rounding bottom

MINDACORP

Minda Corp NSE : Long term Technical Analysis

Pattern: Rounding Bottom

Time Frame : Weekly

Neckline :214

Analysis:

1. Observed Rounding Bottom Pattern in weekly time frame.
2. Confrimed the Neckline on closing as well as High low basis.
3. We got the breakout zone of 214 - 218.
4. Strong momentum with 20 simple DMA Support in Weekly chart.
5. Retested neckline multiple times.
6. Expected breakout this time.

How to buy?
1.Buy on MA in Weekly time frame.(Dynamic entry)
2.Buy at point of Pre - breakout as per explanation in Daily time frame.
3.Breakout buy @ 214 with target 228. Original Breakout at 228.80

Stop loss:

4 % for Long term

How to reenter : Reenter at same level with same stop loss.