Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed ...
NSE: Muthoot Finance
Upside momentum from low of 389 continues with strong participation.
One can initiate a buy to ride the wave.
Price breakout above 500 suggests momentum will continue with stop loss of 480 and can achieve target level of 550, 558, 568, 598
With further breakout above 598, target of 726 insight.
At current level strength of pull back is ...
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 !!
Muthoot returned from ½ resistance angle today. Tomorrow it has to close above 484.60 on closing basis for breakout. If it happens so, target in intermediate term will be 548. Solid 1/1 angle support is at 420
We are looking at a monthly chart of muthoot finance. September months volume is almost 3 times the regular volume and current candle with this huge wick is suggesting more weakness in this stock. Watch out for 365/360 levels, if the stock closes below these levels. it can slide lower