muthoot ib long on PDH* Muthoot taking support from 100DMA consistently
* formed IB today
* failed to breach trendline breakdown
* long on PDL with PDL as SL
MUTHOOTFIN trade ideas
muthoot ib long on PDHMuthoot taking support from 100DMA consistently
formed IB today
long on PDL with PDL as SL
MUTHOOT FINANCE - Bearish Bat - 4H TFBearish Bat pattern on 4H Chart of MUTHOOT FINANCE. SELL 644-645, SL 650.1, Target(s) - 637.5, 634.
Bearish Bat - MuthootFin - 4Hr Bearish Bat - MuthootFin - 4Hr
PRZ: 640-644
SL: 651
TGT: 633, 623
17-07-2019
Muthoot | Bounced off Trendline support - Similar to ManappuramMuthoot Finance exhibit a very similar price action to Manappuram. It should be natural considering the magnitude of similarity in their business models.
Like Manappuram, Muthoot has bounced off a trendline support, where we could also see a demand area i.e. around 600, which also happens to be a round number. With their nature of business involving gold and the yellow metal gaining strength every week, it should be good news for the company with improving loan to value. Stock appears bullish and we expect the stock to hit 650 sooner or later.
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MUTHOOTFIN (Muthoot Finance Ltd) SELL BELOW 623MUTHOOTFIN (Muthoot Finance Ltd) SELL BELOW 623
Stock has been range bound for many days. Today it has given the breakout in the downward direction. So breaking the lower trendline, can lead to more fall in stock's trends.
muthoot finance PE-Reratingwith excellent management, amazing price action and PE increasing from 10,12,13 in last five years, massive pe rerating is on the cards, as earning will increase with multiple revenue streams.
support at 610-615
targets: 650-980
duration 1month
One last PushI am looking this will high likely will make one more push to upside
buying at this stage is not advised , you can look to go short on reversal after this move with weak price action
those who are already in the position look to trail the stop and Book near the forecast
MUTHOOT FINANCE RESULTSexpecting muthoot to complete round top formation and to touch 200 sma. Can expect 530 soon
channelcheck for lower time frame for reversal and go long if it breaks the channel then selling can happen
refer chart for details
