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.