MUTHOOTFIN Down to see 800 level ??!!!

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Chart patterns insist me the above titled opinion.

Reasons

1. Muthoot finance has been travelling in a expanding triangle pattern from 2015.
2. Till now, its respecting the pattern by taking support and resistance at perfect levels.
3. Currently it is in downswing inside the pattern.
4. It may take take support at the Major support (GRENN LINE 800 LEVEL ) soon.

In Weekly timeframe, there is BEARISH PENNANT formation, yet to give BREAKDOWN.
5. only if the Bearish Pennant gives BREAKDOWN, we can confirm the down move.

I will update(Target and SL) once it gives Breakdown!!!

We need to wait, as the breakdown can occur this week or 2 month later or never.

Let's wait for the Market's decision!!!

As of now, (on seeing the chart) its not easy for bulls to charge up.

Note : Just sharing my view....not a tip nor advice!!!

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