Muthoot Finance Limited (MUTHOOTFIN) Stock - Complete Technical Analysis - Nov 19, 2024

Muthoot Finance Stock Analysis: Support, Resistance & Trend Insights Technical Analysis Guide

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Muthoot Finance (MUTHOOTFIN) is currently at 1,896.45, slightly below its recent peak, but it has shown bullish potential with a "Three White Soldiers" pattern. The stock's immediate support lies around 1,862, with a further dip towards 1,794 possible if bearish momentum persists. Resistance levels are near 1,935, and 2,077. A breakout above these levels could signal a stronger uptrend.

The technical indicators are showing mixed signals. The RSI is neutral, while the MACD is negative, hinting at potential bearishness. The ADX is at 22.83, which signals a weak trend, but the Awesome Oscillator suggests selling pressure. On the bullish side, the Bull Bear Power remains positive, and the Ultimate Oscillator is hovering at neutral, supporting the idea that there may still be upside potential.

The stock is currently 8.77% below its 52-week high of 2,078.75 and 50.29% above its 52-week low of 1,261.9. This could point to volatility in the near term, but a break above resistance levels might confirm a bullish trend. Keep an eye on price action near key support and resistance for clear entry or exit points.

Traders should focus on price movement around the support level of 1,862 and watch for a breakout above 1,935 for further confirmation of the stock's bullish potential. Caution is advised if the price fails to maintain support, as a deeper pullback could follow.