"Trendline Retest in Play – Manappuram Finance Nearing Decision Point 📈"

📊 Technical View 1️⃣ Breakout & Retest: The stock broke above the long-term resistance near ₹223 and rallied towards ₹285. Recent pullback tested the rising trendline and now price is rebounding, suggesting buyers are stepping in. 2️⃣ Chart Pattern: The short-term falling trendline from recent highs (~₹285) is the key resistance. A breakout above ₹270–₹275 could trigger momentum toward ₹285–₹290 again. 3️⃣ Support Levels: Strong demand zone at ₹250–₹255. Major swing support at ₹223 (previous resistance turned support). 4️⃣ Moving Average Context: 200-week MA (~₹132) is far below current levels, indicating the long-term trend is bullish. 📈 Learning Takeaway When a stock breaks out of a major resistance and then retests the breakout zone without violating it, it often indicates strength. Combining trendline analysis with prior breakout levels can help traders spot low-risk, high-reward setups.