In the previous session, Indices ended higher for the second consecutive day with strong momentum. The index saw a positive opening in the morning and made a high near 16947.65 levels. Nifty formed a strong bullish candle on the daily chart. Hence, we recommend approaching the markets in a positive way. Use a trailing Stop loss method to protect your profit at higher levels.

 Look at the below research report of ‘Stocks to Buy for -Friday, July 29, 2022’ before the market opens.

Muthoot Finance Ltd.

In the daily time frame, Stock is moving in the form of a ‘Symmetrical Triangle Pattern’. Recently, stock has given a breakout from the upper resistance line on the chart. Stock formed a strong bullish candle in the previous session. The 9 days Moving average is acting very well on the stock. In addition, Prices are comfortably close above the Parabolic SAR which suggest a bullish trend is intact and we can expect upside momentum to continue from support levels.

In short, the trend for MUTHOOTFIN looks to be positive now. A throwback can be expected near 1050 levels. Use dips as a buying opportunity for a move towards 1090/1155 levels as long as we do not see any closing below 1023 levels.

Check More Analysis on MUTHOOTFIN at: Muthoot Finance Ltd.