Manappuram Finance Limited (MANAPPURAM) Stock - Complete Technical Analysis - Nov 29, 2024

Manappuram Finance Technical Analysis: Key Support Levels & Breakout Signals

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 shows a consolidation phase, trading at 156, nearly 32% below its 52-week high, signaling potential undervaluation. The RSI near 46 suggests the stock is not overbought or oversold, indicating a wait-and-watch scenario. MACD remains negative, but the Bull Bear Power at 2.05 signals that buyers are starting to reappear. Ichimoku baseline suggests 151 as a critical support level, while the stock hovers around its 20-day EMA at 156.42. The stock's ATR reflects consistent volatility, offering trading opportunities for short-term swings. Immediate resistance at 160 and strong resistance at 167, near the 50-day EMA, need to be crossed for bullish momentum to build. Stochastic RSI shows overbought conditions, hinting at a short-term pullback. Traders should monitor 150 as a vital support level, with a potential move toward 170 if the resistance at 160 is breached, making this a decisive week for directional bias.