The short-term outlook is bullish for Minda Corporation. The stock surged about 5 per cent on Wednesday and has closed on a strong note. This rise has made a bullish breakout of its sideways range that was in place since mid-October last year. The region around ₹550 will now act as a strong support and limit the downside in case of any intermediate dip. Moving average cross overs on the daily chart also strengthens the bullish case. Minda Corporation share price can rise to ₹600-₹610 in the coming weeks. Traders can go long now at ₹569. Accumulate on dips at ₹555. Keep the stop-loss at ₹535. Trail the stop-loss up to ₹575 as soon as stock goes up to ₹585. Move the stop-loss further up to ₹585 when the share price touches ₹595. the Exit the long positions at ₹610.

Video Credit: Businessline

(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)