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Unite Technologies Financial

12th Aug · SEBI-Registered Analyst

Technical Analysis Manorama Industries

The stock

MANORAMA
is in a strong medium-term uptrend rising sharply from the ₹1150–1200 zone and forming higher highs and higher lows. Currently price is trading around ₹1623 and consolidating near its recent highs, which indicates strength but also some profit-booking pressure. The recent candles show volatility around ₹1600–1650 so a breakout confirmation is important before taking a fresh aggressive position. Support & Resistance immediate support is placed around ₹1580–1550 followed by stronger support near ₹1500–1480. On the upside ₹1650–1680 is the immediate resistance zone while ₹1700–1720 is a major hurdle and previous high area. A sustained close above ₹1720 with strong volume can trigger a fresh upward move. Short-Term Outlook: The setup remains bullish but slightly extended. Buyers can look for a confirmed breakout above ₹1680–1720 or a healthy pullback towards support. Holders can continue to hold while the stock stays above ₹1550. A decisive close below ₹1500 would weaken the current bullish structure.

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