The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock...
Breakout in Muthoot finance's chart . It making Bullish flag on 1 month chart .
Target - 1520 for upcoming 5-7 days .
Breakout level 1478
Need to close higher than 1483 today .
Stop loss - 1460
Fundamentally strong company no doubt .
Also do your own analysis .😀
I hope you can now see how MUTHOOTFIN represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that...
Do initiate trade based on 5min candle close!
Levels mentioned on chart.
Trade at your own risk!
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Support taken @200EMA which can be helpful for a strong Pullback.
#ATH is 1700++ and we have seen that MUTHOOTFIN is Fundamentally #STRONG thus it is Long #portfolio stock.
#keep_accumulating
#HODL
Happy Learning :))
Muthoot finance given good breakout
TGT - 1800 & 1950
SL - 1600
𝑫𝒊𝒔𝒄𝒍𝒂𝒊𝒎𝒆𝒓:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated....
Hi Traders / Investors ,
This is a Swing Trade.
There can be a bullish momentum in Muthoot Finance Ltd because of following reasons :-
1) Consolidation from (5 months) with Low Volumes got Breakout with High Volumes and Large Green Candle.
2) Got another opportunity to enter because of Retest .
3) Prior resistance level got break and now acting as a support .
4)...
Muthoot Finance Ltd. engages in the provision of personal and business loans secured by gold jewelry or gold loans. Its services include gold loan, gold coin, money transfer, pan card, mutual funds, and personal loans. The company was founded by Mathai George Muthoot in 1939 and is headquartered in Kochi, India.
NSE
