Manappuram Finance Limited (MANAPPURAM) Stock - Complete Technical Analysis - Sep 06, 2024

Manappuram Finance Stock Analysis: Key Support

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 is currently trading at 205. Technical analysis shows that the stock is positioned 10.93% below its 52-week high of 230.4 and 63.71% above its 52-week low of 125.35. The support levels to watch are around 200.14 and 184.34, with key resistance levels near 211.17 and 238.0.

In terms of moving averages, the stock is trading below its 10-day, 20-day, and 30-day simple moving averages, suggesting a potential downtrend. The 50-day and 100-day moving averages also indicate a bearish trend, with the stock trading below these levels.

The Average Directional Index (ADX) is relatively low, indicating a weak trend strength, while the Relative Strength Index (RSI) is in a neutral zone, suggesting the stock is neither overbought nor oversold. The MACD shows a positive divergence, but the overall momentum is negative, as indicated by the Momentum indicator. The Awesome Oscillator is in the positive territory, hinting at potential upward momentum.

The Commodity Channel Index (CCI) and Williams Percent Range are in negative territory, reinforcing the bearish sentiment. The Ultimate Oscillator is low, suggesting weaker bullish momentum. The Ichimoku Base Line is above the current price, which also signals resistance.

Overall, traders should watch for potential rebounds around the support levels, while keeping an eye on resistance levels for possible breakout opportunities. Given the current technical setup, the stock might face short-term challenges but could present opportunities if it manages to overcome key resistance levels.