MANAPPURAM SIMPLE PRICE ACTION DAILY CHART WITH GAINING VOLUMES Mnappuram finance daily chart looking good by breaking horizontal trendline and closed above with gaining volumes from last three days and created a strong bullish pattern (THREE WHITE SOLDIERS) it could be a resumption of bullish trend in it and volumes indicating further good upwards movement will continue in it.
CAUSE OF LONG-:
1-Breakout on horizontal resistance trendline and closed above
2- Gaining volumes
MANAPPURAM
MANNAPPURAM FINANCE SWING TRADE IDEANSE:MANAPPURAM
📌 Levels are mentioned on chart for ❝Swing trading❞. These are original and unique patterns that can achieve their target almost 80-90% times.
☆ Please check the description section ⌨ for early entry level in given stock ₪ to get better Risk to Reward (☈☈) ratio.
☆ Kindly ❤ like & share ➥ this pattern. Comment ⎚ with what do you think. Follow me on social media ( Link in bio_) for more updates and announcement 📣 regarding stock analysis.
▣ Key Highlights:
➟ Timeframe Weekly Ⓓ
➟ Cup and Handle Breakout
➟ Trend line ⍩
➟ Rounding Arc ◡
➟ Unique Confluence Ⓤ
📌 Levels are:
Entry 1: ▲ 110 ( small qty )
Entry 2: ▲ 95 ( rest qty )
SL: ✘ 75
Target 1: ➚ 125
Target 2: ➚ 150
RR: ☈ 1:2.5
Return: 20%-40%
Do your own study before Trade!!!
Thank you. Happy Trading!!!
Best Regards,
𝘿𝙧. 𝙎𝙝𝙖𝙢𝙧𝙖𝙟𝙖 𝙉𝙖𝙙𝙖𝙧
𝙋𝙝𝘿 𝙞𝙣 𝙏𝙚𝙘𝙝𝙣𝙤𝙡𝙤𝙜𝙮.
✬ Disclaimer ✬
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on evaluating their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Manappuram Fin - Short in 1hr TF if it breaks the support levels🔴DISCLAIMER
***** It's just for an educational purpose, So you must also follow your own technical analysis before taking up the trades ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
Ideal Target and Stop Loss should be minimum 1:2 RRR (Risk reward ratio)
After reaching our targets, Book 50% Profits and trail your stop loss to get maximum profits from rest of the 50% in your trade.
MANAPPURAM Bouncing off long-term trendlineMANAPPURAM has successfully taken support at its long-term trendline for the last 6 years. The stock has touched this trendline and bounced off of it every two years since December 2016 (as shown in the chart). Another bounce happened in May 2022 and the price is still in a buy range.
This looks like a good place for accumulation. Price targets can be 126, 145, with 218 as the final target. Stop loss below 80. This is a medium to long-term buy opportunity in Manappuram Finance.
MANAPPURAM A Multi Baggger ?It seems Malappuram is a multi bagger in the making which can see 400 + in the next 2 years
Analysis :
After a 5 wave impulse move completing wave 1 of the Primary in January 2010. It went in to a complex correction finally forming a FLAT structure that corrected to the 0.618 Fib level completing the wave 2 of Primary.
So now its all set for wave 3.
Confirmation of completion of correction
1. Two consecutive inverted hammer in the weekly chart and a closing about it, confirming a reversal
2. RSI in the weekly chart at the oversold levels of around 30 - same as that in March 2020.
3. The FIB level of 0.618
4. Break out from the channel of the C wave of the FLAT.
So now all set for the 3rd wave which itself should take it around 380 - 1.618 fib level of wave 1-2
Even I had earlier posted about this but that was certainly a bit early - but it chose to correct to 0.618 levels
So fasten your seat belts as 3rd waves are normally pretty steep and faster :)
This is just my view and not a trade recommendation...
Manappuram Finance - Can it become 3X again?Manappuram Fin is trading near a key trendline support. Stock has always become 2.5X to 3X after taking support on this trendline. Positive on the stock. Any further downside will be a good opportunity to add. SL below the trendline support (only on a close below the trendline on monthly candle)
MANAPPURAM - Important support/resistance levels Key highlights:
- Marked out a few important horizontal S/R levels in order to give a better idea to the new learners.
- Do not trade in between the levels, always trade level-to-level.
- Possible selling climax
- Demand zone: 113-127
- Strong resistance: 150-155
Disclaimer : This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
#StockMarket #StockIdeas #StocktoWatch #StockToBuy #ShorttermMANAPPURAM FINANCE
Stock trading in a range/Darvas box
Now seems BO coming, buy above 125 levels
for short term targets of 131/139 levels
In case of GapUp avoid Setup
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Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
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Target 1 achieved in Manappuram. Gain of 19%. Target 2 is ON...This is follow-up on Manappuram Finance.
Target 1 achieved. Gain of more than 19%. Target 2 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.