Very good financials. Near all time high of 130. If it is able to break 130 then will continue in its uptrend.
Compounded Sales Growth
5 Years: 83.34%
3 Years: 19.86%
TTM: 14.23%
Compounded Profit Growth
5 Years: 86.63%
3 Years: 35.29%
TTM: 22.00%
Return on Equity
5 Years: 17.18%
3 Years: 19.02%
Last Year: 18.63%
MANAPPURAM is moving in an upward channel and has been consolidating after a good bullish move with good volume , breakout from flag expected tomorrow . Can go long once it closes above the flag , Stop loss for 124.5 and targets for 130 and then expecting a new higher high .
One might want to book longs on Manappuram as a move on the RSI indicates a move towards 110. One may sell on rise with SL of 129.5 and targets of 115/110 and eventual target of 105.3
The stock is moving in parallel channel and it is likely to test fibonacci level 78.6% (Rs116.5) and then retrace to 61.8%
Aim for a target of
1. TGT 1 - 105.9 (fibonacci level - 61.8%)
2. TGT 2 - 102.3
SL - 120
Well i see a Bullish rectangle for short term.
I would buy around 124 for target of 128..resistance expected around 126.50 levels...but once it crosses we may see 130 levels as well
MANNAPURAM has been respecting the neckline for a while, currently making cup and handle and handle testing 618 FIB level on the neckline.
ALso moving in a Rising wedge. With GOLD rallying up it can breakout or do what rising wedges usually do.
