Target: Rs 5
Rationale: We have seen long positions being built in Manappuram Finance futures today where we have seen open interest addition of 2% with price rise of 2%. In the option segment, 112.5 and 115 call added 42,000 Shares (117% Rise in Open Interest) and 66,000 Shares (10% Rise in Open Interest) in open interest today suggesting higher possibility of sharp price from here. Recently Stock price has bounced back from 200 day moving average with higher volumes. Primary trend of the stock is bullish with higher tops and higher bottoms on the weekly charts.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above