Manapurram Finance Bracing up for an upmove
This stock looks to be bracing up for an upmove to give a decent Risk Reward Trade, following are the favorable conditions:
Technically:
1. multiple tested lows near 98-96 range but failed to break below
2. Have just moved above the most traded zone and should hold these levels if the hypothesis is true
Other reasons:
1. Fundamentally a good stock with good growth rates
2. dependent on gold rate ( Gold Finance company) Gold has corrected a lot, any upmove should aid the stock in a positive way.
3. broadly independent of the index, so should chart its own course.
Technically:
1. multiple tested lows near 98-96 range but failed to break below
2. Have just moved above the most traded zone and should hold these levels if the hypothesis is true
Other reasons:
1. Fundamentally a good stock with good growth rates
2. dependent on gold rate ( Gold Finance company) Gold has corrected a lot, any upmove should aid the stock in a positive way.
3. broadly independent of the index, so should chart its own course.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.