here's a possible trading idea for Manappuram Finance, keeping in mind that this is not financial advice and you should do your own research before making any trades:
Long trade setup:
Entry: Above ₹196.75 (previous day's high)
Stop-loss: Below ₹190.74 (previous day's low)
Target: ₹210.00 (resistance level)
Rationale:
The stock is currently trading near its previous day's high, which could be a sign of bullish momentum.
The RSI (9) indicator is at 68.27, which is nearing overbought territory but could still allow for some upside movement.
Risk management:
Always use a stop-loss order to limit your potential losses.
Only risk a small percentage of your capital on any one trade.
Considerations:
This is a short-term trading idea and may not be suitable for all investors.
The stock market is volatile and there is no guarantee that this trade will be profitable.
You should consider your own investment objectives and risk tolerance before making any trades.
Additional technical indicators that you may want to consider using to confirm this trade idea include:
Moving averages (such as the 50-day or 200-day moving average)
MACD indicator
Bollinger Bands
It is important to do your own research and analysis before making any trades. This is not financial advice.
Long trade setup:
Entry: Above ₹196.75 (previous day's high)
Stop-loss: Below ₹190.74 (previous day's low)
Target: ₹210.00 (resistance level)
Rationale:
The stock is currently trading near its previous day's high, which could be a sign of bullish momentum.
The RSI (9) indicator is at 68.27, which is nearing overbought territory but could still allow for some upside movement.
Risk management:
Always use a stop-loss order to limit your potential losses.
Only risk a small percentage of your capital on any one trade.
Considerations:
This is a short-term trading idea and may not be suitable for all investors.
The stock market is volatile and there is no guarantee that this trade will be profitable.
You should consider your own investment objectives and risk tolerance before making any trades.
Additional technical indicators that you may want to consider using to confirm this trade idea include:
Moving averages (such as the 50-day or 200-day moving average)
MACD indicator
Bollinger Bands
It is important to do your own research and analysis before making any trades. This is not financial advice.