MANYAVAR - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 2.8
| Stock Code | MANYAVAR | Market Cap | 11,627 Cr. | Current Price | 478 ₹ | High / Low | 975 ₹ |
| Stock P/E | 30.2 | Book Value | 70.8 ₹ | Dividend Yield | 1.67 % | ROCE | 25.9 % |
| ROE | 22.3 % | Face Value | 1.00 ₹ | DMA 50 | 560 ₹ | DMA 200 | 707 ₹ |
| Chg in FII Hold | -0.47 % | Chg in DII Hold | 1.05 % | PAT Qtr | 56.1 Cr. | PAT Prev Qtr | 70.3 Cr. |
| RSI | 23.5 | MACD | -27.4 | Volume | 70,394 | Avg Vol 1Wk | 2,19,072 |
| Low price | 466 ₹ | High price | 975 ₹ | PEG Ratio | 4.03 | Debt to equity | 0.27 |
| 52w Index | 2.54 % | Qtr Profit Var | -16.2 % | EPS | 15.9 ₹ | Industry PE | 43.7 |
📊 Chart Patterns & Trend: MANYAVAR is trading well below its 50 DMA (560 ₹) and 200 DMA (707 ₹), indicating strong bearish pressure. Price action suggests consolidation near the lower support zone of 466–490 ₹, with resistance at 560–580 ₹. Trendlines show a clear downward bias.
📈 Moving Averages: Current price (478 ₹) is below both 50 DMA and 200 DMA, confirming bearish momentum. A sustained move above 560 ₹ is required for reversal signals.
📉 RSI: At 23.5, RSI is in oversold territory, suggesting limited downside and potential for a short-term rebound.
📉 MACD: Negative at -27.4, confirming strong bearish momentum in the short term.
📊 Bollinger Bands: Price is near the lower band, indicating oversold conditions and possible short-term support around 466–478 ₹.
📊 Volume Trends: Current volume (70,394) is significantly below the 1-week average (2,19,072), showing weak participation and lack of strong buying interest.
🎯 Entry Zone: 466–480 ₹ (near support, risk-managed entry).
🎯 Exit Zone: 560–580 ₹ (resistance zone, profit booking advisable).
📌 Momentum Signal: Strong bearish momentum, consolidation near support with potential rebound if RSI-driven buying emerges. Overall trend remains downward unless price sustains above 560 ₹.
Positive
- Strong ROCE (25.9%) and ROE (22.3%) highlight efficient capital use.
- Dividend yield of 1.67% provides investor returns.
- DII holdings increased (+1.05%), reflecting domestic investor confidence.
Limitation
- Stock trading well below moving averages, showing technical weakness.
- High PEG ratio (4.03) indicates expensive growth prospects.
- Quarterly PAT declined from 70.3 Cr. to 56.1 Cr. (-16.2%).
- Weak trading volumes reduce momentum strength.
Company Negative News
- Decline in FII holdings (-0.47%) shows reduced foreign investor confidence.
- Sequential profit decline highlights margin pressure.
Company Positive News
- EPS of 15.9 ₹ reflects solid earnings base.
- DII support increased, showing strong domestic institutional interest.
Industry
- Industry P/E at 43.7 indicates sector is more expensive compared to the company’s P/E (30.2).
- 52-week index return of 2.54% shows weak sector momentum.
Conclusion
⚖️ MANYAVAR is consolidating near support with strong bearish undertones. Entry near 466–480 ₹ offers limited risk, while exits should be considered around 560–580 ₹ unless strong reversal occurs. Fundamentally strong but technically weak in the near term, requiring caution for traders.