NSE:MUTHOOTFIN
On 1H chart MUTHOTFIN looks like Following Elliot Wave 5 Wave pattern.
If so the MUTHOOTFIN should show 1204 Fib retracement Level.
And then It may again show down move to complete its 5th wave.
Just a personal View for study purpose no trade recommendation
MUTHOOTFIN:- BUY ON DIP, 1100 WITH SL OF 1040 CLBS
RSI+MACD+ADX DIVERGENCE WITH OI LONG BUILD UP
#Disclaimer:-I just shared view for only educational purpose.
Muthoot fin closed above important level and 9/21 ema crossover also occured today in 1 hr tf, so I am expecting bounce back atleast upto mentioned levels(1164.8)
It will be a intraday trade, but if it manages to close above 1178 then we can hold it for swing target of 1220 as well
TREND ANALYSIS & TRADE SETUP
TRIANGLE CHART PATTERN !!
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
August Series Option can be traded.
Wait for entry setup, if available then Long/short.
Reward is 8-10 Times
Our previous Analysis on Muthoot finance failed due to doji on candle 2 weeks back. Please follow current set up.
Muthoot after breaking out above 1180, never closed before that on weekly closing hence our sl is 1180/1175 weekly closing basis
Views are for educational purpose only
Muthoot share is in uptrend & in bullish mode. The long entry can be taken as per the marked level above the price of 1185 after the BO of TL. Target level here is 1280 with the SL of 1142. Stock is trading above the 200 EMA & RSI Divergence is well supporting. Here we are expecting very good reward to risk ratio. So add the stock in your watch list to see the...
