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) RSI indicator is above 60 which indicates strong upside momentum.
5) Retest retraced till 0.236 level which is a healthy retracement .
Giving a Risk to Reward of 1:2 , Entry : 1686
Stoploss : 1598
Target : 1855
Please don't make any decisions solely based on this analysis .
Give a thumbs up if you liked this analysis as it requires deep research.
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) RSI indicator is above 60 which indicates strong upside momentum.
5) Retest retraced till 0.236 level which is a healthy retracement .
Giving a Risk to Reward of 1:2 , Entry : 1686
Stoploss : 1598
Target : 1855
Please don't make any decisions solely based on this analysis .
Give a thumbs up if you liked this analysis as it requires deep research.