THE TARGET
LTP on NSE on 16/Feb/2024 was INR 1362/- (with a high of INR 1378/- and a low of INR 1345/-)
Although it is a good buy at current levels.
Resultantly after all this discussion, I believe that the target price should be:
first INR 1650 and
second INR 1880.
Stop Loss should be INR 1180
Risk to Reward will be 1:3
The time horizon should be 12-15 months
this stock is falling from several days...
it is likely give pullback to 1400-1440 levels to before fall to 1135 levels, which is a strong demand area.
If price breaks the 1440-1400 levels, by observing consolidation will expect a rise above head to test the resistance at 1600 levels.
keep in long side from these support levels.
MUTHOOTFIN trading near weekly support. tomorrow close may decide what to do with this
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
I may be 100% wrong as its my personal trade.
First Learn and then remove "L"
The stock had taken a meaningful correction as well as the Gold prices also on the verge of breakout. As per the chart stock is trying to break free from the clutches of 200 WEMA which will boost it towards the life time high and once the high breaks, it will be in open territory to go for the above mentioned targets.
after the nifty 50's bull run, markets are recovering, the stocks which went high by using this movement, now will not come down below that point(talking about last weeks of jun) unless until there is some sort of crash, with some reason, then it will surely go down(no doubts), but the thing to analysis is, why will there be crash at such a recovering point of...
➢ Stock Price has broken out on the daily chart where it closed at highest level since 09 Nov
➢ Short term trend of the stock is positive where it is trading above its 5- and 20-day EMA
➢ Oscillators like RSI and MFI showing strength in the stock.
➢ Considering the Derivative & Technical evidences discussed above, We recommend buying the Muthoot
Fin Dec future...
