Sandeep Wagle of powermywealth.com suggests exiting Manappuram Finance at around Rs 97-98.
Sandeep Wagle of powermywealth.com told CNBC-TV18, "In the short-term I do not see strength in Manappuram Finance. I would recommend exit around Rs 97-98. If the stock were to cross and close above Rs 105-106 in the weekly charts then a move towards Rs 118-120 is likely. Then a fresh entry can be made. But as of now, I would recommend an exit."
At 15:14 hrs Manappuram Finance was quoting at Rs 92.80, down Rs 1.15, or 1.22 percent on the BSE.The share touched its 52-week high Rs 106.75 and 52-week low Rs 35.60 on 25 October, 2016 and 28 March, 2016, respectively.