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NSE:MANAPPURAM
Hi Traders,
MANAPPURAM trade setup and entry and target level on chart.
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This would give us ...
1. HAS BEEN IN GOOD MOMENTUM
2. SECTOR IS ALSO PERFORMING WELL
3. RESISTING AT ITS 0.618% (GOLDEN RATIO) LEVEL
4. FORMED DOUBLE DOJI ON DAILY TIME FRAME
INTRADAY : DOWN SIDE
SHORTS CAB BE INITIATED IF PDL BREAKS (166.5) FOR TARGET OF 164.5
Price made a double bottom at 140 level and went up by 13 points last trading day. Still 163 above is the buying level as discussed previously but when you see a double bottom one can risk with small stop loss and definitely you will be in a good position when it reaches 163 !!! Think about it.
looks bullish, last time breakout failed , but next time it will broke i think. 170 180 levels chance is manappuram.. buy after 163-164 is be a good choice i think
Price forming a flag pattern and trading near an important resistance level. If price closes above 163 then 178 is the target for the Flag pattern.
If price reached the channel bottom that is 156 levels one can buy with small stop.
