Wait and watch for Manappuram Finance: Vijay Bhambwani

In a chat with ET Now, Vijay Bhambwani, Author, CEO, BSPLindia.com shares his views about Manappuram Finance and Jubilant Foodworks.

What is the call on Manappuram Finance and Jubilant Foodworks?

Manappuram Finance is basically showing volatility. It has been consistent with news and as far as levels are concerned, 44 needs watching as a near term support. If it goes below 44, further downsides cannot be ruled out. I would feel more comfortable buying this stock only if it clears 52-53 levels on a consistent closing basis with better volumes. Till then, I would basically feel it is just a sideways movement.