📊 Muthoot Finance – Follow Up View

CMP ₹2,901 (+2.2%) | The stock is trading near the upper end of its rising channel, firmly above 20/50/200 EMAs, confirming strong trend momentum. 🔹 Technical View Support: ₹2,725–₹2,750 Resistance: ₹2,900–₹2,950 Breakout above ₹2,900 may open the next leg toward ₹3,000–₹3,050. RSI at 71 → bullish, nearing overbought. Volumes rising on up days, showing institutional buying. 🔹 Fundamentals Q1 FY26 profit surged 90% YoY, AUM up 42%, boosting confidence in gold loan business. Rising gold prices → higher loan demand & collateral value. Diversification into housing & SME loans and digital adoption strengthen growth visibility. 🔹 Analyst Ratings Morgan Stanley: Overweight | TP ₹2,920 Nuvama: Buy | TP ₹2,993 Nirmal Bang: Buy | TP ₹2,885 ⚠️ Risks NBFC regulatory tightening. Competition from banks in gold loans. Gold price volatility. 👉 Short-Term View As long as ₹2,750 holds, bias stays bullish. Sustaining above ₹2,900 could push the stock to ₹2,950–₹3,050. Profit booking only below ₹2,725. ✅ Bottom Line: Muthoot combines strong earnings momentum with a robust technical setup, positioning for potential breakout toward fresh highs.