SURIYAJONES

Head and Shoulder Pattern

Short
NSE:MANAPPURAM   MANAPPURAM FINANCE
Head and Shoulder Pattern broken. If tomorrow break the lower low then it go for 130-135 and get retrace at fib level 50% 131.

Comments

Brought Manappuram 260 shares @159 on 31st July...now closing price on 6th Aug is 154.8.

my target price is 183.

suggest me what to do now ?
should I keep this stocks or exit tomorrow ?

is there is any chance ? will it go up again ? if yes whare I have to book Profit ?

please suggest me targets & stoploss
with time frame.
Reply
SURIYAJONES subhashsurabhi
@subhashsurabhi,
If you a long term invester then hold it and keep adding when it reaches 130-135 bcoz it a good long term stock it may bounce and reach above 200 after finish retracement.

Now its in downtrend and if it breaks 150 in closing then have potential to touch below 135.

Then the bad news is RBI policy in Gold loan LTV 90% only for banks (NOT FOR NBFC) Bcoz of this most of the customer will go for banks not for nbfc. And private bank like csb, federal,etc will easily take over the customer gold loan form nbcf bcoz of 90%LTV for only banks.

If you unable to hold more than 3 to 6 month then keep stoploss 148
+1 Reply
subhashsurabhi subhashsurabhi
@SURIYAJONES thanks for your response..

closing price on 7th Aug is 161.6

my target price is 183.

Is there is any chance for up trend next upcoming week ?

my target is 183

please suggest me targets & stoploss with time frame...:-)
Reply
Wont suggest to short..!! Todays was only panic selling due to RBI announcement..!! All screeners showing potential buy though would like to see tomorrow closing...!! Its a trendsetting day for both Manappuram & Muthoot...!!
Reply
Please suggest exact price for shorting, stoploss and target.
Reply
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