NIFTY 50

Momentumisers: Why Manappuram Finance is moving up consistently

Updated : June 01, 2021 12:48:32 IST

Manappuram Finance jumped over 4 percent in the previous session with its session traded volumes were 25 percent higher than normally seen – that’s a 10-day average.

In terms of delivery, it was close to double of what was seen in terms of 10-day average and there were some shorting though shorts covered yesterday because the open interest was down by 8-9 percent.

At the technical level, it's 20-50-100-200 day moving average (DMA) and it’s between Rs 150 and Rs 162 odd, so the stock is perfectly placed in a crucial support zone, but can it move higher is the question.

For more details, watch the video
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