MUTHOOTFIN 1 MONTH chart range bound pattern it will break soon. target 1 = 1388 target 2 - 1606
Muthoot Finance is moving in the channel since August and now it is at the bottom level of the channel and has broken the trendline. So it is showing a potential long trade for swing.
The stock is trading in a range since almost an year now. This is the time to buy the stock at the lower band of the range and enjoy the move up to the top range. One can also hold the stock and wait for the range breakout to further enjoy the bullish move. Multiple bullish confirmations are present in the stock.
Muthoot Finance broke trendline
price is at horizontal support & forming a bullish divergence in 2 hr timeframe.
Long Muthoot finance above 1175 SL 1148 Target 1225/1240/1290
GO LONG FOR SWING TRADE WITH STOPLOSS BELOW SUPPPORT. TRENDLINE CAN ACT AS A POSSIBLE RESISTANCE SO BOOK PARTIAL PROFIT STRICTLY TRAIL SL.
Buy now and the target is 1400 and 1425. SL is 1150. Support is also given in the chart.
FOLLOW IF YOU FIND MY ANALYSIS ANY HELPFUL. :)
Muthoot on the verge to break the resistance trendline