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Demand_zone

Manappuram | Good Demand areaManappuram is currently trading on a trendline support, where we could also see a demand area. With their nature of business involving gold and the yellow metal gaining strong every week, it should be good news for the company with improving loan to value. Stock is a good buy right away. Least case, the script should retest 144 again. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:MANAPPURAM
by AkhilSuryaFS
6
Joining the trend with DemandLupin has been making Up trend on Daily Time Frame. The marked zone forms like Rounding Bottom Formation, with a classic Demand Zone Formation. There is no Supply Zone on Daily Time Frame till ₹ 1020, opening up R:R for the long trade. Both 10, 20 EMAs coincide with the zone. If they still remain coincident with both the zone and latest trading price at the time of entry, it may add to better probability for this trade. One of the cons of this trade is that the green bullish candle of Jan 5, has not been able to close satisfactorily above the bearish candle of Dec 29, giving rise to doubt that probably this price movement can be a fake one, to trap and stop us out. Looking to take advantage of this zone to join in the trend. Disclaimer: The Analysis, nowhere recommends to follow it, nor does it recommend nor does it give any advisory to buy/sell. This is not an investment advisory and only an educative analysis.
NSE:LUPINLong
by VaibhavVatkar