1 min read Last Updated : May 31 2019 | 6:39 AM IST
Buy Manappuram Finance June 140 Call @ Rs 4.5
Stop loss: Rs 3
Target: Rs 8
Rationale:
Long build up was seen in the Manappuram Finance Futures’ yesterday, where we have seen rise in Open Interest with price rising by 4 per cent.
After witnessing healthy correction during the first three days of the week, the stock resumed its uptrend again with rise in volumes.
The stock is trading above its 5, 20 and 200-day simple moving average (SMA) indicating it is in uptrend for all the time frames.
Oscillators and momentum indicators like relative strength index (RSI) and moving average convergence divergence (MACD) are showing strength in the stock on the daily and weekly charts.
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