Stock Analysis: 
MANAPPURAM ( Reverse or Breakout )
Overview:
Current Price: ₹224.23
Timeframe: Monthly Chart
Key Levels:
Resistance Levels:** ₹225 (significant), ₹233.04 (major), ₹315.42 (potential target if breakout occurs)
Support Levels:** ₹190.00 (recent low), ₹160.00 (significant support)
Price Action:
The stock is currently approaching a major resistance level at ₹233.04.
A breakout above ₹233.04, accompanied by strong volume, could signal a continuation of the uptrend towards ₹315.42.
Conversely, failure to break above ₹233.04 may result in a potential reversal towards support levels like ₹190.00 and ₹160.00.
Volume Analysis:
- Increasing volume could support a breakout above ₹225.
Conclusion:
- Watch for a closing price above ₹225 as an indication of potential bullish momentum in Manappuram Finance.
- Confirmation with strong volume is advisable for assessing sustainability of any breakout
- Be mindful of support levels at ₹190.00 and ₹160.00 in case of a reversal scenario.
MANAPPURAM ( Reverse or Breakout )Overview:
Current Price: ₹224.23
Timeframe: Monthly Chart
Key Levels:
Resistance Levels:** ₹225 (significant), ₹233.04 (major), ₹315.42 (potential target if breakout occurs)
Support Levels:** ₹190.00 (recent low), ₹160.00 (significant support)
Price Action:
The stock is currently approaching a major resistance level at ₹233.04.
A breakout above ₹233.04, accompanied by strong volume, could signal a continuation of the uptrend towards ₹315.42.
Conversely, failure to break above ₹233.04 may result in a potential reversal towards support levels like ₹190.00 and ₹160.00.
Volume Analysis:
- Increasing volume could support a breakout above ₹225.
Conclusion:
- Watch for a closing price above ₹225 as an indication of potential bullish momentum in Manappuram Finance.
- Confirmation with strong volume is advisable for assessing sustainability of any breakout
- Be mindful of support levels at ₹190.00 and ₹160.00 in case of a reversal scenario.
Vignesh
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Vignesh
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.