Manappuram Finance Limited Stock Forecast
On Friday, Manappuram Finance Limited stock price gained an impressive 5.31%
(Updated on May 10, 2024)
The Manappuram Finance Limited stock price gained 5.31% on the last trading day (Friday, 10th May 2024), rising from ₹165.70 to ₹174.50. During the last trading day the stock fluctuated 4.54% from a day low at ₹167.30 to a day high of ₹174.90. The price has been going up and down for this period, and there has been a -10.17% loss for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 591 thousand shares were bought and sold for approximately ₹103.17 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.90% during the next 3 months and, with a 90% probability hold a price between ₹179.07 and ₹218.50 at the end of this 3-month period.
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MANAPPURAM.BO Signals & Forecast
The Manappuram Finance Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹185.19 and ₹185.06. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 5.31%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Manappuram Finance Limited stock
Manappuram Finance Limited finds support from accumulated volume at ₹174.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹7.60 between high and low, or 4.54%. For the last week, the stock has had daily average volatility of 4.91%.
Our recommended stop-loss: ₹167.97 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (MANAPPURAM.BO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Manappuram Finance Limited to open at ₹172.23, and during the day (based on 14 day Average True Range), to move between ₹166.96 and ₹182.04, which gives a possible trading interval of +/-₹7.54 (+/-4.32%) up or down from last closing price. If Manappuram Finance Limited takes out the full calculated possible swing range there will be an estimated 8.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹174.05 (0.26%) than the resistance at ₹186.25 (6.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Manappuram Finance Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.335 Buy Candidate Upgraded
Predicted Opening Price for Manappuram Finance Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹172.23 ( 1.30%) | ₹174.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MANAPPURAM.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 179.83 | 3.06 % | |
| R2 | 176.93 | 1.39 % | ||
| R1 | 175.14 | 0.365 % | ||
| Current price: | 174.50 | |||
| Support | S1 | 169.33 | -2.96 % | |
| S2 | 167.54 | -3.99 % | ||
| S3 | 164.63 | -5.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 197.05 | 12.92 % | |
| R2 | 193.65 | 10.97 % | ||
| R1 | 186.25 | 6.73 % | ||
| Current price | 174.50 | |||
| Support | S1 | 174.05 | -0.258% | |
| S2 | 165.90 | -4.93% | ||
| S3 | 165.70 | -5.04% |
MANAPPURAM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 16, 2024 | Mar 07, 2024 | ₹0.90 | 0.522% |
| 2 | Nov 24, 2023 | Nov 24, 2023 | Nov 24, 2023 | ₹0.85 | 0.575% |
| 3 | Aug 23, 2023 | Aug 23, 2023 | Sep 08, 2023 | ₹0.80 | 0.553% |
| 4 | May 24, 2023 | May 24, 2023 | Jun 10, 2023 | ₹0.750 | 0.640% |
| 5 | May 29, 2018 | May 29, 2018 | Jun 16, 2018 | ₹0.500 | 0.483% |
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