Muthoot Capital showing resilience in falling Markets

By | July 3, 2018

  Muthoot Capital showing resilience in falling Markets

 1 Year Muthoot Capital Chart Image (Chartlink)

 

  • Recommended Price Range: 980-1050.
  • Targets T1: 1200 and T2: 1380 
  • Time Frame: 3-6 Months Recommended Date: 03.07.18

   Technical Views: 

  1. Long-term trend: Bullish 
  2. Medium Term Trend: Bullish 
  3. Short-Term Trend: Bullish
The Muthoot capital stock is an ideal buy range and is showing robust price structure as the stock broke out of its range of 980-858 a few days back after consolidating for almost 2 months from(17-4-18 to 13-6-18).In the last one year, Muthoot capital stock is in the continuous uptrend and is forming the higher top and higher bottom formations and is hitting new 52 week highs indicating solid accumulation by big-ticket investors.

In the market crash and volatile periods from Feb 18 to April 18, Muthoot capital stock rebounded from its 50 DMA placed around 700-750 zones and showing true qualities of a small cap leader. A true leader is one which falls less when broader indices fall and move more when the indices rise. Recently, the institutional investors have latched up the stocks and while most of the NBFC is hitting new 3 month lows on the back of higher borrowing costs, Muthoot Capital is showing resilient price structure along with pick up in volumes.

The EPS in 2018 was 36.34 while in 2017 was 19.94 and hence there is strong earnings acceleration which is driving stock prices and can also take ahead. So, people should accumulate and hold on to this stock for good sequential targets and this stock is held and can even give 100 % returns in next 6 months if next 2 quarters show very good earnings trend. We shall exit Muthoot Capital stock when it breaches 100 DMA on daily charts and we shall keep 100 DMA as out stop loss for the stock which is a dynamic figure.

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