Gold prices have surged to unprecedented highs, both domestically and internationally, reigniting interest in gold-related companies. Spot gold prices recently crossed ₹91,000 per ten grams in India, while international gold reached over $3,000 an ounce. This surge has brought gold financiers like Muthoot Finance and Manappuram Finance, as well as exchange-related stocks like MCX, back into focus. On Business Today TV's "Market Today," Brijesh Ail, Head Technical & Derivatives, Retail Research, IDBI Capital Markets & Securities, discussed these opportunities. He noted significant buying momentum in Muthoot Finance, observing a gap-up opening and above-average trading volumes. Brijesh Ail believes this momentum will continue, projecting a directional trend towards ₹2,350-₹2,400 for the stock. He particularly highlighted Muthoot Finance's strong setup, driven by volume. He suggests that investors looking to capitalize on the gold theme could consider a fresh entry into Muthoot Finance, using today's low as a stop-loss, with a target of around ₹2,400.
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