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 is experiencing a downtrend, as seen from its position below key EMAs and SMAs. Recent price action highlights a bearish bias, with MACD and Momentum indicators supporting the negative trend. However, the RSI indicates oversold levels, suggesting a potential rebound may be on the horizon. The ADX reveals moderate trend strength, signaling traders to remain cautious about the continuity of the current bearish phase.
Support levels are seen around 146-140, while resistance exists at 154-160. A breakout above 160 could drive the stock towards 170 or higher, but sustained pressure below 146 might test new lows. The volatility is high, as indicated by ATR, emphasizing the need for disciplined stop losses and a focus on risk management. Traders can watch for bullish divergence in oscillators or volume spikes as potential early signals for reversal.
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