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Hello friends , Today i have the technical chart Of Muthoot Finance . Friends as you can see here that it was in a down trend but now it can go up because it is making a " Falling wedge " because it has broked its upper trend line and also remember it will go down first and then up from the support price as shown in the picture ,Thus it is also near the breakout...
VGuard broken falling wedge with big volume.
Stock looks to all set to move up towards 230 levels if takes out 184 easily. Failure to break 184 will form symmetrical triangle.
Any Dip towards 165 long opportunity SL 158 on daily basis. Target 180, 200 230+
Disclaimer: Calculated and plotted values may differ little with actual stock movement. Plotted wave...
TREND ANALYSIS & TRADE SETUP
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
The daily chart shows a beautiful wedge pattern with a tilt towards upward breakout. The weekly chart has shown a MACD uptick yet again and with closing above a strong resistance with good volumes the short term perspective is bullish.
Key Resistance at 6550,6620 and 6750.
Key Support at 6150 and 6000
Add this stock to your portfolio when comes below the key level mentioned on the chart.
Even though the volume is giving sign of short end but key break on daily chart of major trend gives an indication and opportunity to add