Jun 4, 2017

Chart Of The Day : MUTHOOT FINANCE LTD.Buy/Sell/Hold? Short - Mid Term View 4 JUNE 2017 For Trading Positional Technical Analysis Recommendation

Chart Of The Day : MUTHOOT FINANCE LTD.Buy/Sell/Hold? Short - Mid Term View 4 JUNE  2017 For Trading Positional Technical Analysis Recommendation

Recommendation: Buy
View : Short to Mid Term
Strategy : ?
CMP : bse cash 427.60

Clearly the financial services space is ruling the roost of equity markets at this point baring the bad loans ridden banks and excepting the surprising NPA disclosure of state owned Power Finance Corporation limited.
MUTHOOT FINANCE LTD. Is definitely a leading counter in nbfc space.
Let’s talk about the stock movement directly.
It declined to its 200 dma around 280, after note ban from its pre note ban high of 400 of august 2016 and crossed the same recently and given fresh breakout above it.
We expect fast rise of 15 pc. The rise announced in Q4 also gave backing to the stock price rally.

Attached is the chart and a little explanation. Click on the chart for bigger view.
You can clearly see how it is making one of the most reliable inverse head and shoulder patter on the daily chart and now made a high above the previous high of 405 levels.
We clearly recommend a strong and easy buy on this one. The way it has come back is also very promising from trading perspective.

Subscribe to www.meghainvestments.com for proper buy/sell, Stoploss, Target Levels and timely updates regarding actual trading in the recommended stocks. 
This is only a brief commentary; you can contact us for complete research, analysis and view on the stock.
Join one of our services for getting regular trading calls in all segments like equity stock cash intraday, positional, index options, index futures, stock futures, stock options and intraday and positional in all of the segments with high accurate less calls with small stoploss and bigger target with personalized service for tracking your profits/losses with us, that’s what we call assured profit services.
Go check out our site for details or email us or call us for detailed discussion.


Post a Comment