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.
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.
交易進行
We identified Manappuram Finance Ltd. on Dec 4, 2024.
As expected, it broke the BOX PATTERN decisively.
It further retested the next resistance of 176, 186 levels multiple times.
Yesterday, it broke the resistance level of 186 with good volume.
The next important levels are 203, 215 and 228.
On the weekly closing, the volume buildup should be supportive for further momentum in thie stock.
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