MANAPPURAM trade ideas
MANAPPURAM LONGManappuram formed double bottom and broke the resistance.
Good to go long in this stock or one can also wait for re-test.
Trade safe. Manage risk. Be profitable.
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MANAPPURAMNSE:MANAPPURAM
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Mannapuram Finance for mid term 1) 3 Resistance at the top
2) Multiple supports at the bottom
3) Ascending Channel pattern is formed for more than 3 yrs
4) In Weekly time frame it shows pretty huge buying pressure,which is a good sign for buying
4) Whenever it touches the supports, it gives pretty decent returns by holding at least for 3 to 4 months
5) Risk Reward Ratio 1:4
Disclaimer : Just for education Purpose.
Caution before get in to trading.
Thanks Happy Trading :)
MANAPPURAMNSE:MANAPPURAM
Please note that we are not a SEBI Registered Investor Adviser/PMS/ Broking House.
All the contents over here are for educational purposes only and are not investment advice or recommendations
offered to any person(s) with respect to the purchase or sale of the stocks / futures and options.
You are also requested to apply your prudence and consult your advisers in case you choose to act on
any such content available as WE claims no responsibilities for any of your actions or any outcome of
such action
MANAPPURAM FINANCE (LONG)Good volume coming in this stock
following trendline upside
support zone near 160-170
next support zone near 150
took support at 200 EMA
ready to fly upside if crossed resistance at 177-180
Buy at CMP
Buy more Near 160-170
SL 150
TGT 180-208-240
Please Correlate by yourself also on charts. This is for Educational and Paper Trading Purpose Only. Must Consult your financial advisor before Investing.
Manappuram - Long Term Bullish Channel MANAPPURAM in upwards channel. Expect it to run within this channel. I also see another trendline within the channel marked in blue lines. Though Manappuram sold off recently due to bad results, long term trend is bullish , as gold prices will shoot up high in 2022 due to Inflation across the world and currency devaluation. If it breaks out above the channel, expect a major blast in upwards, target 350-400 in 12-18 months.