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Turning Bullish: Manappuram Finance Ltd. Manappuram Finance Ltd. has been trading within a tight range in a BOX PATTERN for the past couple of weeks. Yesterday, there was a clear and significant break in the box pattern. The stock took strong support on 20 EMA (Black Line). Resistance levels: 176, 187, 203, 214, 228. For confirming the bullish trend, 20 EMA (Black Line) has to trade above 50 EMA (Orange line) in the weekly closing. The upside potential is optimum and the downside risk is minimal.
NSE:MANAPPURAMLong
by shanmurali
MANAKALUCO - Weekly Chart Analysis, CMP-43.40On a monthly chart the stock broke out of the double bottom pattern and again went into consolidation. This month it is seen breaking out of that consolidation and on good volumes. Monthly close is yet to happen next week, but it is evident enough that it will probably close above the resistance levels. (30-33). It is sailing above all its key moving averages. Now this zone 30-33 shall act as good support and a weekly close with a follow through will invalidate our view. 49 - 53 - 58 - 62 - 69 - 90 -100 are the levels its can test over the long term. Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
NSE:MANAKALUCOLong
by marketmoneymohmaya
MANAKCOAT - Weekly Chart Analysis, CMP-34.95On the monthly chart the price was not able to sustain above 25 levels which we see now seems sustaining. Probably coming our of small base of 8 weeks and 20.5% range it is well sailing above all its key moving averages with decent volumes. Quarterly sales are improving. 18-25 levels will now act as strong support and a weekly close below it with a follow through will invalidate our view. 42.5 - 62.55 will be the primary targets as these are the resistance above. After successful breakout of these levels 74 - 90 - 111 are the levels it can test over the long term. Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
NSE:MANAKCOATLong
by marketmoneymohmaya
MANAKSTEEL - Weekly Chart Analysis, CMP-81.95A probable classic VCP structure. Successful closure over the resistance/supply zone 49-54 on good volumes. 49-54 shall act as main support zone, but 64 will also act as a minor support from hereon. Weekly close and follow through below it shall invalidate our view. On the upper side, 87 - 103 - 123 - 135 levels can be tested over the long term in future. Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
NSE:MANAKSTEELLong
by marketmoneymohmaya
Manappuram Finance - Madhu Kela TradeI respect Mr. Madhu Kela highly for his performance since Reliance Mutual Fund days..he still commands the respect of several ulta HNI's who also happen to be market veterans. Often they hunt in packs. The last such pick was Canara Bank.. Now it seems like Manappuram has caught their fancy so this is purel a trade based off that.. Also the setup is beautiful..Gold is peaking..loan advances by all financial co's is at a high. Technically a nice cup and handle forming.. Along above 126.50 .. the ideal stoploss would be below 114 (220EMA) but for a tight trader it can also be 5% below purchase price.
NSE:MANAPPURAM
by rdkriplani
MANAPUPURAM ---MULTIBAGGER 2023MANAPPURAM -- Monthly chart setup - GOLDEN YEAR 2023 1. stock trading at Monthly upper channel , channel lower level support seen around 100-105 level from then continuation to upward channel 2. Gold price appreciation this year gold price hit all time high, that boost fundamentally. 3 . Normalized smooth MACD shown at positive crossover point 4. Double bottom support seen at trend reversal around 80-85 level 5. potential upside 50-80% from current level 115-118 target 150-180-200 n 1 year, stop loss bellow channel and trendline support at 75 ** THIS IDEA IS FOR EDUCATIONAL PURPOSE .. Trade at own risk !! ** HAPPY TRADING. !!
NSE:MANAPPURAMLong
by champtrade111