MANAPPURAM Bouncing off long-term trendline
MANAPPURAM has successfully taken support at its long-term trendline for the last 6 years. The stock has touched this trendline and bounced off of it every two years since December 2016 (as shown in the chart). Another bounce happened in May 2022 and the price is still in a buy range.
This looks like a good place for accumulation. Price targets can be 126, 145, with 218 as the final target. Stop loss below 80. This is a medium to long-term buy opportunity in Manappuram Finance.
This looks like a good place for accumulation. Price targets can be 126, 145, with 218 as the final target. Stop loss below 80. This is a medium to long-term buy opportunity in Manappuram Finance.