SQL & PL/SQL

HI All,

I am using Oracle 19c version and facing doing merge with collections and union.Below is the code snippet and expected outcome

CREATE TABLE projects_dest ( SNO NUMBER PRIMARY KEY, project_name VARCHAR2(100), in_date DATE DEFAULT SYSDATE, out_date DATE DEFAULT NULL );
INSERT INTO projects_dest(SNO, project_name) VALUES (1, 'Project Alpha'); 
INSERT INTO projects_dest(SNO, project_name) VALUES (2, 'Project Beta'); 
INSERT INTO projects_dest(SNO, project_name) VALUES (3, 'Project Gamma');

Now I am reading the data from source and want to merge data based on SNO. If any new record insert and for any missing record update out_date to sysdate.

declare
cursor c_pop_project is
with src_data as(
select 2 as SNO, ‘Project Beta’ as Project_name from dual
union
select 3 as SNO, ‘Project Gamma’ as Project_name from dual
union
select 4 as SNO, ‘Project X’ as Project_name from dual)
select SNO,Project_name from src_data ;
type type_tbl_project is table of c_pop_project%rowtype;
load_tbl_project type_tbl_project;
begin
open c_pop_project
loop
fetch c_pop_project bulk collect into load_tbl_project limit 50000;
exit when load_tbl_project.count =0;
forall load_tbl_project.fisrt..load_tbl_project.last save exceptions
merge into projetcs tgt using
(select load_tbl_project.sno as sno,
        load_tbl_project.project_name as project_name
        'NEW' ins_upd_ind
        from dual
        minus
        select sno ,project_name , 'NEW' from projects
        union
        select sno ,project_name , 'SOFT_DEL' ins_upd_ind from projects
        minus
        select load_tbl_project.sno as sno,
load_tbl_project.project_name as project_name
'SOFT_DEL' ins_upd_ind
from dual
)src on (src.sno = tgt.sno and ins_upd_ind = 'SOFT_DEL' )
when matched then
update out_date = sysdate
when not matched then
insert 
(sno,
project_name
)
values
(src.sno,
src.project_name
);
commit;
end loop;
close c_pop_project;
exception
when others then
raise;
end;

This is the similar code snippet I have , when I run this this is updating all existing records out_date to sysdate instead of SNO1 record.

Can anyone please check this and let me know where is the issue in this code logic.