Buy Muthoot Finance in range of Rs 1225-1250, Target: Rs 147, Stop Loss: Rs 110, Time frame: Three months.
Derivatives & Quantitative OutlookSafe haven assets like gold have started witnessing a fresh uptrend in recent days. It is likely to continue its positive momentum. It has also led to continuous accumulation in stocks like Muthoot Finance. We believe the ongoing consolidation in the stock is a buying opportunity. It should revert to its life-time highs once again On the F&O front, leveraged positions in the stock have declined considerably in the last two months as stock prices remained subdued and were unable to perform in line with the market. Despite sharp closure, the stock has been able to surpass its trading range indicating prevailing positive bias in the stock. We believe fresh addition in the stock will trigger another round of up move in it.
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