Buy Muthoot Finance, target Rs 455: Gaurav Bissa

Gaurav Bissa of LKP Securities has a buy call on Muthoot Finance with a target price of Rs 430-455.

The current market price of Muthoot Finance is Rs 427.05.

Time period given by the analyst is one month when Muthoot Finance price can reach the defined target.


Gaurav Bissa recommended keeping a stop loss at Rs 380.

Investment rationale by LKP Securities:
The stock is moving in rising channel on daily charts.

The stock has given the double bottom breakout on a smaller time frame.

The stock has also given channel breakout in a smaller time frame.

The stock has come out of its Bollinger band on daily charts.

The stock has given a close above its 50DMA.