MANINDS - Weekly Chart Analysis
Updated
On a monthly timeframe it's a multiyear breakout. On a weekly timeframe from May2023 it was struggling to sustain above the 147.10 levels. This week though it has managed to sustain above and also closed above its crucial resistance of 178. Now 138-162.50 levels (also swing low) shall act as a support for further move upwards. So this should be an ideal Stoploss levels.
Volumes are very good on monthly as well as weekly timeframe. Price is sailing above its key moving averages.
As off now it has not breached the ATH levels(229-240). So that shall be considered as 1st target as selling pressure shall be seen around these levels.
As per the trend based fib 219, 260 & 375 levels can be tested in future.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.
Volumes are very good on monthly as well as weekly timeframe. Price is sailing above its key moving averages.
As off now it has not breached the ATH levels(229-240). So that shall be considered as 1st target as selling pressure shall be seen around these levels.
As per the trend based fib 219, 260 & 375 levels can be tested in future.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.
Note
2 targets done. 179 -->> 219 -->> 260
40%+ Gains
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