Muthoot Finance exhibit a very similar price action to Manappuram. It should be natural considering the magnitude of similarity in their business models.
Like Manappuram, Muthoot has bounced off a trendline support, where we could also see a demand area i.e. around 600, which also happens to be a round number. With their nature of business involving gold and the...
The stock comes across as a wonderful wyckoff accumulation candidate. If this view is correct, then price should get into a mark-up phase or a trending phase with higher spread and volume. The bullish view will be invalidated on a close below the LPS level in the chart.
Await Wyckoff Point & Figure chart target soon !!
MUTHOOTFIN looks looks weak for short term and struggling for a proper bounceback.
Sell Below: 375 for targets -
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before attempting any. The profit/loss...
Based on my PredictiveSystem's signals, tomorrow (09-Apr) its going to be a RED candle for NSE:MUTHOOTFIN
Sell below: 426.4
Stop loss: 429.9
Note: These calls are based on my own analysis. It may or may not work well for you. So please carefully consider whether it is suitable for you and please do your own research before...
It is been observed that the price action breaks out from a symmetrical triangle on a daily chart, indicating a strong selling and further weakness ahead. It is important to confirm the breakout with a close below 350 levels.