Man Infra cmp 222.90 by Daily Chart views*Man Infra cmp 222.90 by Daily Chart views*
- Price Band 194 to 200 Strong Support Zone
- Double Bottom formed at 168 to 170.50 Price Band
- Strong Resistance Zone at 219 to 223 Price Band to be Support Zone
- Daily basis Support at 206 > 188 >168 with Resistance at 231 > ATH 249.30
- Volumes had spiked over past few days but Resistance Zone is acting as a good hurdle
- Price Breakout above Falling Resistance Trendline and well sustained above Support Zone
Maninfraconstruction
MANINFRA - Weekly Chart AnalysisAfter almost a ~50% move from the low cheat trigger point the stock broke the ATH levels (116-131)and managed to sustain above it for 3 weeks and 15% range which was taken out this week on good volumes.
I shall wait for further confirmation of at least 1 close above 155.50 on daily timeframe.
Stock is showing good strength and so is its index. It is trading above all the key moving averages.
View gets invalid if it manages to close below the ATH Zone which now shall act as a support.
Trend based fib targets comes out to 220-260 levels.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.
Man Infra - Ready for another lapMan Infra construction Ltd basically engaged in the business of construction / civil works. Promoter holding is more than 60% with a nature of reducing debt and continuous payment of dividend in selected intervals. Profit growth and margin are also increasing qoq. Promoter pledge is also zero. Also got some good orders. Can expect a 50% movement from here within 3-6 months.