Man Infraconstruction - Long SetupMan Infraconstruction (ManInfra) - Detailed Long Positional Trade Setup
ManInfra is showing signs of a potential breakout from its downtrend, making it an attractive long positional trade opportunity. Here's the detailed setup:
Technical Observations
Trendline Breakout: The stock is attempting to break above a descending trendline, indicating a reversal in trend.
Strong Support Zone: Significant support exists at ₹172-₹169, which has been respected multiple times in the past.
Volume Confirmation: Recent bullish candles are accompanied by rising volumes, validating the breakout strength.
Supertrend Reversal: A possible supertrend buy signal confirms upward momentum.
TEMA Alignment: Short-term moving averages are starting to align positively, signaling momentum build-up.
Trade Setup
Entry Level: Above ₹195 (Confirmation of breakout).
Target 1: ₹215 (Near-term resistance level).
Target 2: ₹230 (Extended target based on Fibonacci levels).
Stop-loss: ₹170 (Below the key support zone).
Rationale for Trade
The setup aligns with technical indicators like the breakout from a prolonged downtrend, volume surge, and strong support levels. These factors collectively signal a high-probability trade with favorable risk-reward dynamics.
Note: Always monitor market conditions and adjust the stop-loss or targets accordingly. Trade responsibly!
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Breaking out of the downtrend! Strong support near ₹172-₹169. 🚀
✅ Entry: Above ₹195
🎯 Target: ₹215-₹230
⛔ Stop-loss: ₹170
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