MINDACORP trade ideas
MINDACORPNSE:MINDACORP
One Can Enter Now ! Or Wait for Retest of the Trendline (BO).
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
target renwe 380In 9MFY22 the company's 49.8% revenue was from 2-3 wheelers, CV is 21.9% & PV is 12.1%.
83.8% business is from India.
Out of Total orders of 42,318mn 23,626 was from New Business and other was from Replacement business. The EV orderbook out of Total order was 8426 mn & Export was for 2584 mn rest was Domestic order.
Business win from EV Players worth 8,426 million demonstrates MCL as one stop shop for EV related Products.
For 9MFY22 revenue rose 28.5%, Ebitda rose 46%, PAT rose 190%. Margins rose 110 bps, Profit margis rose 320 bps.
Customers are Ampere, Ashok Leyland, Bajaj Auto, CNH, Hero Electric, Hero Moto Corp, Honda Motorcycle and Scooter India, Hyundai, Mahindra & Mahindra, Maruti Suzuki, OLA Electric, Polarity, Revolt, Suzuki Motorcycle, TVS Motor, Tata Motors, VE Commercial Vehicles, Yamaha Motor etc
breakout with good volumesMinda was moving in a channel for some time and today it broke out of channel with good volumes ( positive sign)..if it retests the channel in coming days, it could make a big move up.
CMP -125.6
Target 1 - !39-40
Target 2 - 155
This is not advice to trade. Calculate your own risk/reward ratio and SL and trade.