CALL 9898160777

Manappuram Finance (BUY, above Rs62.50, Target Rs66.50): On the daily chart, the stock has given an upside breakout, considered to be an important bullish signal. The stock is poised for further gains in the next few trading sessions. The undertone is reasonably strong and is likely to push price higher. After breaking above its 200-DMA last week, the stock has made higher tops. The upside breakout is well accompanied with impressive volumes. The stock recorded three-fold delivery volumes, exceeding its 5-day average. Based on above mentioned technical evidences, we recommend traders to buy the stock above Rs62.50 with stop loss of Rs60.50 for target of Rs66.50. (Duration 4 days)