Muthoot Finance Ltd. is an interesting chart with following
1. ABCD pattern under formation in weekly chart
2. Price taking support at 20 week SMA i.e. Rs. 1270
3. Price crossed above 20 Day SMA (1259) and is trading neat upper Bollinger bands.
4. RSI on daily /weekly / Monthly time frame is bullish strong
5. As per fib Projections next resistance can be 1368- 1426 - 1483 levels.
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix
1. ABCD pattern under formation in weekly chart
2. Price taking support at 20 week SMA i.e. Rs. 1270
3. Price crossed above 20 Day SMA (1259) and is trading neat upper Bollinger bands.
4. RSI on daily /weekly / Monthly time frame is bullish strong
5. As per fib Projections next resistance can be 1368- 1426 - 1483 levels.
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix