Buy Muthoot Finance Ltd For Target Rs.2220 - Monarch Networth Capital
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Muthoot Finance Ltd
Stock has given a strong breakout from the multi day consolidation with strong volume support which indicates strong positive bias in the stock.
It has been consolidating in 1400-1640 price range since last few days but it has given a strong breakout today post strong set of numbers and positive commentary. It is indicating strong bullish bias on daily ichimoku chart and Momentum indicators have turned positive as well.
Recommendation is to Buy in the range of 1600-1700 keeping Stop loss at 1390 level and Target at 2000-2220 levels.
RECOMMENDATION: Buy range: 1600-1690 CMP:1664 SL: 1390 TARGET:- 2220 TIMEFRAME: 3-4 MONTHS
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