Manappuram Finance Limited (MANAPPURAM) Stock - Complete Technical Analysis - Nov 11, 2024

Manappuram Finance Stock Analysis Key Support, Resistance & Trading Insights for Traders

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 priced at 156.11, which is significantly below its 52-week high of 230.4. The technical indicators present a mixed picture. The Average Directional Index (ADX) is at 38.4, suggesting a strong trend, but the Relative Strength Index (RSI) at 42.43 indicates the stock is close to the oversold zone. The stock's MACD is negative, indicating a bearish phase, while the momentum is positive, signaling potential upward movement. The Stochastic RSI indicates overbought conditions, which could lead to a pullback soon.

Moving averages show a bearish trend in the short term, with the stock trading below the 10-day and 20-day EMAs. However, the 50-day EMA at 176.03 and the 200-day EMA at 182.62 are key resistance levels. For traders looking for potential reversal opportunities, support lies at 130.74, while the first resistance is at 164.66. Given the stock's recent rise, traders should be cautious of short-term volatility and look for confirmation of breakout or support testing before taking significant positions. Keep an eye on these levels for the next moves.