Investors with a short-term perspective can buy the stock of Minda Corporation at current levels of ₹101.6.
On Tuesday, the stock jumped 5.5 per cent accompanied by above average volume breaching a key resistance at ₹99. There has been an increase in daily volume over the past five trading sessions. The daily relative strength index features in the bullish zone and the weekly RSI hovers in the neutral region. Besides, the daily as well as the weekly price rate of change indicators feature in the positive terrain implying buying interest.
The stock appears to have resumed the medium-term uptrend. Targets are ₹106 and ₹108. Traders can buy with a stop-loss at ₹99.