MANYAVAR - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 05 Nov 25, 7:43 am

Technical Rating: 3.1

📉 MANYAVAR is currently in a reversal phase with bearish momentum and weak technical indicators. Entry zone: ₹640–₹647; exit zone: ₹675–₹690. Watch for RSI recovery and MACD flattening to confirm bottoming out.

📊 Technical Overview

• Price Action: Trading at ₹647, below both 50-DMA (₹711) and 200-DMA (₹826), indicating short- and medium-term weakness.
• RSI (39.4): Near oversold zone, suggesting potential for technical bounce but no confirmation yet.
• MACD (-9.51): Bearish crossover, confirming downward pressure.
• Bollinger Bands: Price near lower band, indicating oversold conditions with possible support.
• Volume: Above 1-week average, showing increased participation despite price weakness.
• Support Zones: ₹640 (S1), ₹620 (S2)
• Resistance Zones: ₹675 (R1), ₹690 (R2)

✅ Positive

• Strong ROCE (25.9%) and ROE (22.3%) reflect excellent operational efficiency.
• EPS of ₹15.9 supports valuation and earnings visibility.
• Dividend yield of 1.23% offers modest income potential.
• Volume surge may indicate accumulation at lower levels.

⚠️ Limitation

• Stock P/E (40.8) is slightly below industry average (42.4), but still reflects premium pricing.
• PEG ratio of 5.44 suggests overvaluation relative to growth.
• Price trading well below key moving averages confirms bearish bias.
• MACD and RSI show weak momentum, limiting short-term upside.

📉 Company Negative News

• Quarterly PAT dropped from ₹70.3 Cr. to ₹56.1 Cr., a 16.2% decline.
• FII and DII holdings both declined, reflecting cautious institutional sentiment.

📈 Company Positive News

• Strong brand equity and festive season demand may support future recovery.
• Low debt-to-equity ratio (0.27) ensures financial stability and flexibility.

🏢 Industry

• Apparel and ethnic wear sector benefits from seasonal demand and cultural trends.
• Industry P/E of 42.4 reflects high growth expectations across peers.

🧭 Conclusion

• MANYAVAR is in a reversal phase with bearish momentum and weak technical indicators.
• Entry zone: ₹640–₹647; exit zone: ₹675–₹690 for short-term bounce trades.
• Long-term investors should wait for trend reversal confirmation before accumulating.