I respect Mr. Madhu Kela highly for his performance since Reliance Mutual Fund days..he still commands the respect of several ulta HNI's who also happen to be market veterans. Often they hunt in packs. The last such pick was Canara Bank..
Now it seems like Manappuram has caught their fancy so this is purel a trade based off that..
Also the setup is beautiful..Gold is peaking..loan advances by all financial co's is at a high.
Technically a nice cup and handle forming..
Along above 126.50 .. the ideal stoploss would be below 114 (220EMA) but for a tight trader it can also be 5% below purchase price.
Now it seems like Manappuram has caught their fancy so this is purel a trade based off that..
Also the setup is beautiful..Gold is peaking..loan advances by all financial co's is at a high.
Technically a nice cup and handle forming..
Along above 126.50 .. the ideal stoploss would be below 114 (220EMA) but for a tight trader it can also be 5% below purchase price.