MUTHOOT FINANCE READY TO SWING UP WITH HUGE VOLUME BREAKOUT 📈💡🔥
🟢 What a Reversal on weekly chart from Long term support! I would be damned if I wouldn't take a position it. So I will tomorrow.
🟢 That too with a steller Quarterly Results 🔥👇🏻
🎯 Revenue: Revenue increased 26.8% year-over-year to ₹3,842.68 Cr in the Q3 2023-2024
🎯 Net profit: Net profit increased...
Muthoot On a Higher Timeframe making significant
Higher High and Higher Low
Stock rejected from Previous High and came down for retracement.
Stock Retested the Previous Breakout level and currently forming a
Strong #PriceAction.
So the Stock shd move from Higher Low to Previous Swing High then New ATH.
A Inverted Head & Shoulder Chart Pattern Breakout happened on the Daily Time frame of NSE:MUTHOOTCAP
Price Action supported by volume.
The stock is currently in uptrend making higher highs and higher lows.
One can add this stock into their stocks to buy list.
One can initiate the long trade as per the lavel mentioned on the chart
Stop loss will be on a...
Namaste!
Muthoot Finance is one of my favourite stocks in the finance sector. The formulae I use to calculate intrinsic value suggests this stock, whereas it somewhat fails in the valuation of Bajaj Finance, SBI Cards, etc.
It is trading at a PE (Price to earnings ratio) of 11.62, whereas Bajaj Finance is 51.29 and SBI Cards is 45.53.
In most cases, the lower PE...
If trigger line crosses over 53.38, may reach 66.07, cash Price may reach 30-45 with a gap up.
If trigger line crosses over 42.61, may reach 32.58, Option Price may reach 20-22.
NSE: MUTHOOTFIN is closing with a bullish consolidation candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 13% gain on...
Short MuthootFin Below 1346, SL of 6 - 8 points for Target of 1330. Reason for trade RSI Divergence, Weekly TF candle is shooting star. Avoid trade if opens big gap up
Please note, I am not SEBI registered advisor, this is just my view and is for educational purpose. Please consult your financial advisor before taking trade.
If you think this idea is use...
The chart shows that the stock has crossed the year-long resistances and continuously going forward.
At this level risk-reward ratio is fine for a long entry if thinking of a positional setup.
Buying range is from the current price to as near as 1180.
Sustaining below 1160 will show weakness in the idea.
Targets may be 1390/1510.
Only for learning and sharing...
MUTHOOTFIN Looking good for long entry on Daily Time Frame.
*Close to 52 Week High
*ADX 43.64 Strong Trend
*MACD 34.83 Neutral
*RSI 75.27 Neutral
*SuperTrend 1140.22 Bullish
*ATR 26.18 Low Volatility
*VWAP 1255.66 Below Vwap
*20 EMA 1157.42 Above 20ema
About Company:-
Muthoot Finance Limited operates as a gold financing company in India. The...
Price making bearish divergence with the momentum indicator
last 3-4 days price action suggesting price hitting the wall.
We will see if History rhymes this time also.
Don't know if Manappuram case will have a spillover effect here also.
Happy Trading !
Chart patterns insist me the above titled opinion.
Reasons
1. Muthoot finance has been travelling in a expanding triangle pattern from 2015.
2. Till now, its respecting the pattern by taking support and resistance at perfect levels.
3. Currently it is in downswing inside the pattern.
4. It may take take support at the Major support (GRENN LINE 800 LEVEL )...
Sell muthoot finance below 960 for the target between 910-900 with strict SL of 990. Reason for your learning of taking short call 3 star trading setup
1) Stock Rejecting 50 EMA Level.
2) Support will be BD again below the 960 level.
3) RSI too Rejecting 60 level. Even not able to touch the 60.
All above points shown weakness in structure of the stock. This...
