On the weekly chart of Manappuram Finance, a Rising Wedge pattern appears to be forming, with the lower trendline currently providing support around the 300 level. At the same time, the RSI is showing a negative divergence with price, indicating weakening momentum despite the price action.
A decisive break below 300 could confirm a breakdown from the Rising Wedge pattern and may open the possibility of further downside toward the 250 level, which also coincides with a previous swing low and could act as the next significant support zone.
