I will be looking at initial targets of Rs 1,140 on Muthoot Finance with a strict stop loss of Rs 1,230. For me Muthoot Finance is again a ‘very good sell call at current price. The trend here is clearly on the downside. This stock even when the market was performing well, was moving only on the downside. Another sell call for me will be Muthoot Finance. ![]() I will be keeping a tight stop loss of Rs 293 for this sell call. At current market price, it is a great risk reward to sell M&M Finance looking at targets initially of Rs 274 and even further down, if Rs 274 support gets broken. It has broken crucial support at levels of Rs 293 last quarter results were bad, updates are bad everything is weak on M&M, charts are telling me yes, this stock can head towards levels of Rs 274. ![]() You cannot pick any NBFC stock and sell but for me definitely M&M Finance looks very weak. But right now what is very crucial is yes, having seen a sharp fall, the market is seeing some bounce back because we are taking that support from oversold zones and Nifty is making that comeback today. Now one has to understand we are nowhere closer to 20,200 Nifty where I was in fact recommending a short call and we have already corrected 600 points on nifty from those levels and Bank Nifty has also corrected about 1500 to 2000 points from the highs. What is your sense on what markets are doing as well as what is happening on the broader market front as well?įirst of all, we have to see both at Nifty as well as Bank Nifty level from the highs we have corrected approximately about 3 to 4% which is a healthy correction. When these stocks start correcting, you may not even get that opportunity to exit and these signals were visible to me from yesterday and today also we saw underperformance in the midcaps and smallcaps which is definitely a worrying call for me.” One has to be very cautious in the midcaps and smallcaps. ![]() CA Rudramurthy, Head, Research, Vachana Investments, says “it is very important to sell when you can and not when you want.
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