Manappuram Finance | Bounced off a support | Latest stock market news

(3 minutes read)

Stock name: Manappuram Finance

Pattern: Bounced off a support

Time frame: Weekly

Observation:
The stock has bounced off from a strong support zone and seems to have made an upward sloping double bottom. The volume built-up is also good. If the stock sustains above current levels, we may see a good up move in this counter.

You may add this to your watchlist to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

1) Bharat Electronics signs 5 MOU with defence companies for establishment of defence sector and exports: PSU Connect.

2) The index of mineral production of mining and quarrying sector for the month of September 2022 was 99.5, which is 4.6% higher as compared to the level in the month of September 2021. As per the provisional statistics of the Indian Bureau of Mines (IBM), the cumulative growth for the period April-September 2022-23 over the corresponding period of previous year is 4.2%.

3) Passenger vehicle wholesales in India rose 29 per cent to 2,91,113 units in October aided by robust demand in the festive season, the Society of Indian Automobile Manufacturers (SIAM) said.