consolidating around support. Keep on radar!If it can cross 615 on closing, then it may hit 700, 800 very quickly!
NOT SEBI registered. Charts produced here are for personal reference only and not any recommendation.
MANORG trade ideas
Could not break outCould not break out from descending resistance line at 560 yesterday. If it is able to close above the line tomorrow and remains bullish for a couple of days, within the next three months it will hit 685-710.
At the cross roadsIt is at the cross roads and will start its winning ways once 420 is crossed immediately and held for a couple of days. Good support around 385
BullishFriday Manorg has crossed an important resistance and for some time 460-480 will act as a support. If it is able to close above 560 in say two weeks, we may see level of 650 in November 2020.
May find support soon380 should be the support which is likely to be seen by mid November if the stock keeps consolidating.
Came back from the last resistance lineCould not sustain above the last resistance line while trying to cross two days ago, which is normal. Some consolidation is expected when we may see 525/500 during the better part of the next month. Nov target will be 600. If the consolidation continues instead of piercing the resistance, end November target will be 654
Likely to consolidate for about 15 days.I think the support at 402 will be held and the consolidation around the two support/ resistance lines will continue for two to three weeks before any directional move starts.
how is that?? i could see 600 n beyond.. what do u say BTW??you have not missed anything yet!
Disclaimer:I am NOT SEBI registered. THE OPINION GIVEN OR THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
Short term extreme bullishness was seen, Resistance aheadTarget 444 by the 4th week of August and if it is achieved, fresh bullishness can be seen
Crossed an important resistance on Friday. Mangalam made a good move on Friday and thus crossed a formidable double resistance angle. If all goes well in the interim perod, we should be able to see the scrip scaling 444 soon.
Resistance aheadStrong resistance at 400. If it is crossed successfully then the next target will be 534
Consolidating The stock is expected to tread in a narrow range with upper range of 396 and lower suppsrt of 354 unless it manages to close above 396 in which case a level of 530 can be seen inintermediate term
Held supportMangalam could hold on 2/1 support when it was able to close above 384 on Friday, If the scrip shows sustained bullishness now, a target of 502 can not be ruled out in intermediate term
May reverse immediatelyThere is a support at 381, which is a good support for reversal. However, I have a hunch that today's low could be the low point in this down trend. We will know it for sure by tomorrow.
