225 is a target in Manappuram for rounding bottom pattern… May or may not come about. But I have seen it being achieved in some similar early rounding bottom patterns in other stocks. e.g pricol. rounding bottom was formed and an important pivot of around 64 was crossed. Previous peak which was the expected target was at 137. If you look at price now, its at 193. (but not all such patterns play out. One needs to try and figure out where the odds lie by studying fundamentals.) I don’t track Manappuram too closely, so not much idea about it.
Putting up weekly chart of Pricol to illustrate above example. Pivot at 64 marked in solid blue horizontal line. And previous peak marked in dotted blue horizontal line. After the pivot breakout in March 2021, it has been a 3 bagger in nearly 1.5 years.
Recent example of early stage rounding bottom and Pivot crossing in JM Financial is put up in the 52 weeks high thread. Will keep tracking it to see how it plays out.
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