Kotak | Bearish Trend

Kotak has broken a long time consolidation levels and broke 1650 with huge volumes which happened only once in the last few years ( zones marked in weekly chart)
On Monthly, it has broken the long time support of 1600-1650. hence it's highly probable that it will not rocket upwards from here. Another reason, too many coverage in media & youtube is done on this stock to buy at these levels

It has posted great results which might give it a temporary spike, but as per charts it looks bearish. Expecting another 100-250 points fall from here

It's a great company to won, but may be at much lower levels given market is giving the opportunity

PS: I reserve the right to be wrong. not SEBI registered.
The information on this platform/document is general and not financial advice. It is not a substitute for professional advice. Before making investment decisions, consult a qualified SEBI registered financial advisor to assess your unique financial situation and goals, as investing carries risks and past performance doesn't guarantee future results.

Comment:

should reap in hedges and stay short to book around 1600-1550