Muthoot Finance

Gold Finance companies are seeing a technical correction after a long rally. Too many people linking yesterdays LTV news to the price action though. On this chart the top was made days ago at the top end of a rising channel from the 2013 bottom. But that top is only end of wave 3 of the rally from this years low. Wave 4 is now back to the 40dema near 1159. Either that holds as the final support or worst case we test the wave 4 low of the previous move near 1069. Eventually wave 3-4-5 up is pending on the upside to complete an impulse.