Manappuram Finanance-short term view-BullishNSE:MANAPPURAM
1. Daily,weekly indicators are slowly turning to bullish from bearish
2. Symmetrical triangle breakout done.
Vijayaraghavan.K,
Kovilpatti.
MANAPPURAM trade ideas
Manappuram Finance - Intraday TradeLong on 86.80 break wih SL as PDL
Short on 85.10 break wih SL as PDH
Manapuram- Gold on HoldShort Range 82-83 on higher side with sl above 86 on closing basis on 1 hourly chart. Enjoy this gold
Manappuram to test 80sManappuram could test 80s as a short term pull back and then back to 60s.
The short term trend reversal may not last longer, as the overall trend is still bearish
Long on reversal One can look for Going long on weekly reversal candle close , this scrip is high volatile , dont do experiments , buy only after reversal and stay with it until you see its losing the value , and please trail your stop , i received few request in PM they dont know what to do on long term trend and they took few loses , so trail your stop to daily low and let it run
Manappuram near to the lower end of the channel, so could see a bounce back of 100 levels.
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
Manappuram on corrective wavesManappuram done with 5 wave up, now it's in corrective waves.
This is the chart which i posted in another blog when the price was above 100.
forum.valuepickr.com
Expecting to find the bottom somewhere in 70s.
A head and shoulder patter in wave 5 will doubly ensure, the correction is on cards.
Considering the 127.75 as the top. This is how it can retrace:
Level 1: 38.2% from top : 78.9
Level 2: It can find support in the wave 4's level
Level 3: 61.8% from top : 48.8 and the levels will go on in fib series.
#Manappuram finance cash : Good support 95-96#MANAPPURAM FINANCE CASH
05 SEPT 2018
STRONG SUPPORT @ 95-96
CMP 99
Co-Relation: MANAPPURAM & GOLDMulti - BOTTOM @ 96 in Weekly Chart.
Gold Price Increased in Global Market.
Fundamentally Business of Manappuram finance based on Gold Loan.
In Daily Candle Chart Formation of "DOJI" after Long Body Bearish Candle Suggests Reversal.
T+2 Tgts: @ 101.65, 103.75, 104.75, 106.75, 108.60+ (Next Follow FIB Tgts mentioned on Chart).
Education purpose only.
suspicion of wyckoff distributionmight be a minor pull back and exit rally...
disclaimer... not an investing/trading recommendation
Manappuram Finance Kerala Flood Effect Fundamentally it got crashed on the news of Kerala Flood because 5 percent of branch network for Muthoot Finance is in Kerala with 50 percent of the lending book contributed by Southern states. But the point is, they have six type of services. They always give loans on having security i.e. gold, land, home, vehicle.
Apart from the commercial vehicle segment which is a pretty new service but also well protected as they give to school/college/companies only; their entire business is protected!
Technically, it is a clean swing low formed. It is going for its upper channel. The Overall Market sentiment is bullish; it will definitely be contributing to the bull run.
