MANAPPURAM is moving in an upward channel and has been consolidating after a good bullish move with good volume , breakout from flag expected tomorrow . Can go long once it closes above the flag , Stop loss for 124.5 and targets for 130 and then expecting a new higher high .
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
Very good financials. Near all time high of 130. If it is able to break 130 then will continue in its uptrend.
Compounded Sales Growth
5 Years: 83.34%
3 Years: 19.86%
Compounded Profit Growth
5 Years: 86.63%
3 Years: 35.29%
Return on Equity
5 Years: 17.18%
3 Years: 19.02%
Last Year: 18.63%
3 yr average sales growth - 16%
3 yr average profit growth - 30%
3 yr average margin growth - 10%
Accelerating sales, profit, and margins. Such a combination is lethal and if we have a bull market to support such conditions, this stock may go much higher from here. This stock is showing a similar fundamental story like Muthoot finance.
Manappuram Finance - Entry@125
Sales growth of 15.5% since 2015
Income growth of 38% with an average ROE of 18%
I have initiated a pilot position. I will add more based upon price strength and 2019 march annual earnings guidance.