Manappuram Finance - Trade Setup

20 Mar

📊 Trade Plan:
Entry: Above ₹215 if broken out with volume.
Stop Loss: ₹192.95 (Closing basis).
Target: Watch price action near ₹231 (ATH); safe traders wait for a daily close above it.
Position Sizing: Buy in small quantities and accumulate gradually.

📈 Why This Stock?
Technical Setup:

1. Trading above key DMAs (Daily Moving Averages).
   
2. Stock was in an uptrend (June-Aug 2022) but fell out of the channel and gapped down significantly (Oct 24, 2022).
   
3. Now recovering and trading near ATH (₹231), forming another channel.
   
4. Entry possible above ₹215 if broken with volume.
   
5. Watch for ₹231 breakout with volume (4-year trading range).
   
6. Finance index has broken out of base and is trading above key DMAs.
   

⚠️ Market Conditions & Risks:

2. We are trading against the trend (LL-LH structure).
   
3. The overall market is below the 50 & 200 DMA, indicating potential further dips.
   
4. Trades are more prone to failure unless the market structure changes.
   
5. Safe traders should wait for confirmation before entering.
   

📊 Fundamentals (Key Data)

• Market Cap: ₹18,107 Cr
  
• Current Price: ₹214
  
• 52-Week High/Low: ₹230 / ₹138
  
• Stock P/E: 9.21
  
• ROCE: 13.8%
  
• ROE: 20.6%
  

🚨 Disclaimer:
⚠️ This is not financial advice. We are trading against the broader trend, meaning the risk of failure is high. Do your own analysis before taking any trade. Always manage risk and trade cautiously! 🚀

21 Mar

İşlem aktif

7.7% move so far and trading near ATH, watch the price action closely.