Manappuram Finance Limited is a non –banking financial company situated in Kerala state. Manappuram provides gold loan service, SME Finance Service, Commercial Vehicle Service, Forex and Money Transfer Service. We gave a buy call in it. Following are the points on behalf of which we gave the call:
Crossover of 5 18 SMA and 60 days EMA.
ADX above 33 indicates a strong positive trend.
Opening above previous close, indicates that manappuram is forming a strong support for a uptrend.
RSI crossover at 51.
Fundamentally, Manappuram is a strong share quarterly net sales up by 30.45% ,OPM increased from 69.43% to 72.70 % , Net profit is up by 98% .