Manappuram Finance Breaks Rising Channel

has broken below the lower boundary of the rising channel it had traded within since the March 2026 base, with price now at 313. The stock had climbed steadily inside this well-defined channel through its August peak near 382, and the recent slide has taken it decisively below the channel's supporting trendline. This development comes alongside weakness in gold prices, which is relevant context for the gold-loan NBFC space given the linkage between bullion prices and loan-book/asset-quality dynamics for companies like Manappuram. RSI at 38.83 is below the midline, reflecting the loss of momentum that has accompanied the channel breakdown. Resistance: 345 (broken channel support, now potential resistance), then 372 (recent swing zone).Support: 310 and the 282 (the second reaction low) Whether this channel break extends into a deeper correction in line with the gold price weakness, or finds support and stabilizes, is something worth tracking over the coming sessions, especially given the sector's sensitivity to bullion price trends. When a stock's channel break coincides with weakness in its underlying commodity linkage, tracking both together often gives a fuller read on the setup. Disclaimer: This is for educational purposes only and is not investment advice. Please consult your financial advisor before making any investment decisions. SEBI Registered Research Analyst — INH000025212.