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Buy Muthoot Finance, target Rs 449: Abhishek Mondal

8 August, 2018 9:08 AM
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Buy Muthoot Finance, target Rs 449: Abhishek Mondal

Muthoot Finance has given a break-out above its downward trend line around Rs 417-418 levels on Monday with higher volumes on the daily chart.

A daily momentum indicator Relative Strength index (RSI) reading at 58.52 levels, making higher top and bottom whereas MACD is trading above zero line with positive crossover and OBV — On Balanc Volume is showing an upward momentum, which indicates some fresh upmove expected in this stock.

Traders can buy the stock in the range of Rs 418-421 with a stop loss below Rs 399 (closing) for a target of Rs 449.

Also read: Accumulate TVS Motors; target of Rs 605: Prabhudas Lilladher

Source: moneycontrol.com

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