TREND ANALYSIS & TRADE SETUP !
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Reward is 10-12 times .
MANAPPURAM | Seeing a Flag formation in Daily time frame & Weekly time frame shows strong rejection in downside.
After a scary H&S pattern the stock gave Wedge breakout but broad market pulled the price down again.
Personally one more strong conviction it has taken a great 20 EMA support in Weekly pattern.
CMP : 153
Strong demand zone : 140
Target : 180,190
Weekly Chart - Broke the previous solid resistance and stable upside now.
CMP : 590
SL : 550
Target : 800
Beautiful 1:5 risk reward setup. Looks good for accumulation, since it is weekly pattern it may take few weeks to month to reach the target.
I love F&O stable stocks like this which respects proper support & resistance , so that we can create some option...
Company Type: PSU
Book Value: 171
P/E Ratio: 4.07
Dividend Yield: 10.31 %
Revenue: 62.29k CR.
Points to consider:
1. Institutional Investment is growing YOY.
2.MF showing good buying.
3. Promoters have 0 Pledge.
4.PAT has grown at 50%.
5.Rank top 10 in the Finance Sector.
6. Industry P/E is 29.50 which is far better in valuation.
7. Good improvement in cash...
Asianpaint has come out of consolidation and has given a breakout from triangle pattern.
It has crossed its ATH(All Time High) with good volumes.
Its an evergreen stock and sector. A large cap and must be there in everyone's portfolio.
Buy them at this price and wait for good returns over the years.