Stock: MUTHOOT FINANCE
Reco: Buy
CMP: Rs 398
Muthoot finance Ltd. Has been oscillating well within a downward sloping channel since November 2017. The recent Spike occurrence followed by a Bullish Harami formation near the lower bound of the pattern depicts the strength of the support near 360. The recent rebound wave which commenced from this support has impulse wave characteristics which augurs well for a move towards 426 where its 200 DEMA is placed which could eventually see an extension towards the upper end of the channel formation which is currently placed around 440. Traders could ustilise the opportunity to build positional longs with a stop below 374.
Stock: TECH MAHINDRA
Reco: Buy
CMP: Rs 639
Positive sector outlook & the ongoing secular uptrend intact on the monthly scale. The ongoing contraction seems to have witnessed a breakout & the move should commence towards 702 zone. Trading longs with a stop below 620 could be considered to participate the expected momentum.
Reco: Buy
CMP: Rs 398
Muthoot finance Ltd. Has been oscillating well within a downward sloping channel since November 2017. The recent Spike occurrence followed by a Bullish Harami formation near the lower bound of the pattern depicts the strength of the support near 360. The recent rebound wave which commenced from this support has impulse wave characteristics which augurs well for a move towards 426 where its 200 DEMA is placed which could eventually see an extension towards the upper end of the channel formation which is currently placed around 440. Traders could ustilise the opportunity to build positional longs with a stop below 374.
Stock: TECH MAHINDRA
Reco: Buy
CMP: Rs 639
Positive sector outlook & the ongoing secular uptrend intact on the monthly scale. The ongoing contraction seems to have witnessed a breakout & the move should commence towards 702 zone. Trading longs with a stop below 620 could be considered to participate the expected momentum.
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