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Manappuram Finance- CMP 164.15Manappuram Finance- CMP 164.15. It can be taken at current price with a sl of 159 for a target of 171, 179, 185, 192. In August 21 it fallen from a haigh of 214 and stabilized around 158 to 164. RSI and MACD are showing strength for price rise. It is in the process of cup formation and top of the cup is around 185. It recovered up to 23.6% of Fib levels. This is for educational purpose and any buying or selling shall be done after consulting financial expert.
Manappuram Finance looking very bullishManappuram has given trendline breakout on 12th july and after a successful retest of trendline is now looking ready to blast.
Today it has also broken its ATH of 194.8 made on 29th January 2020 with heavy volumes after the retest.
RSI has a steep upward curve which shows bullish momentum might continue.
Stoploss might be kept below trendline at around 175-177 with targets of 230,250++.
This is my personal opinion based on my analysis and it is just for educational purpose.
Manappuram Finance Ltd - 17.06.2021Manappuram Finance Ltd - 17.06.2021
The stock has made an intraday low @ 162.40, breaching the low of previous day candle @ 165.85
There is a MACD Bearish Divergence in daily chart which is confirmed today after the previous day low is taken off and prices are below ema
one can initiate a short position @ 163-164 levels with resistance @ 166.50 for targets below 157
watch out for the price action