Manappuram Finance Limited (MANAPPURAM) Stock - Complete Technical Analysis - Sep 19, 2024

Manappuram Finance Stock Analysis Key Support & Resistance Levels September 2024

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Manappuram Finance Limited (MANAPPURAM) is currently trading at 207, which is approximately 10.2% below its 52-week high of 230.4 and 65% above its 52-week low of 125.35. The stock shows a relatively neutral outlook with some mixed signals from various technical indicators.

The Average Directional Index (ADX) indicates a weak trend strength, suggesting a potential lack of a strong directional movement. The RSI is in the neutral zone, indicating that the stock is neither overbought nor oversold. The Stochastic %K and Stochastic RSI both show values that are not in extreme overbought or oversold conditions, signaling a potential for range-bound trading.

The MACD is slightly negative, suggesting bearish momentum, while the Momentum indicator is also negative, reflecting a short-term weakening trend. However, the Awesome Oscillator indicates a minor bullish signal, though its not strong enough to suggest a significant upward move. The Commodity Channel Index and Williams %R are both in bearish territory, reinforcing the caution.

Support levels for MANAPPURAM are anticipated around 200 and 185, with resistance levels expected at 215 and 225. The stocks proximity to its short-term moving averages and trading above its longer-term moving averages suggests a potential range-bound pattern with possible resistance around 215. Traders should watch for price action around these levels to gauge future movement.