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    HomeNewsBusinessSell Muthoot Finance, target Rs 350: Vinay Rajani

    Sell Muthoot Finance, target Rs 350: Vinay Rajani

    We recommend selling Muthoot Finance for the downside target of Rs 350, with a stop loss at Rs 395.

    Moneycontrol News
    June 05, 2018 / 12:02 IST
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      Vinay Rajani




      Muthoot Finance has broken down from the long-term upward sloping trend line. The price has been forming the Lower top and lower bottom formation on the weekly chart.




      The stock has been trading below the short term and long term moving averages. Volumes have been rising along with the price fall for last three weeks.




      Oscillators have been showing weakness on the daily and weekly charts. The stock has remained gross underperformer from the NBFC space for last many weeks.


      We recommend selling Muthoot Finance for the downside target of Rs 350, with a stop loss at Rs 395.


      Disclaimer: The author is Technical Analyst, PCG Desk, HDFC Securities. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment
      Moneycontrol News
      first published: Jun 5, 2018 12:02 pm

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