Positional or Long-term Opportunity in Kotak Bank
Updated
Go Long @ 1893.7 for Targets of 1977.4, 2061.1, and 2228.5 with SL 1810
Reasons to go Long :
1. On the weekly timeframe stock gave Trendline breakout (marked with green color) & now it's taking support from it.
2. If we draw Fibonacci retracement from the recent swing low to the swing high then the stock took support from the 0.382 Fibonacci level.
3. In addition to this, the stock formed a Bullish Engulfing pattern around 0.382 Fibonacci level.
Reasons to go Long :
1. On the weekly timeframe stock gave Trendline breakout (marked with green color) & now it's taking support from it.
2. If we draw Fibonacci retracement from the recent swing low to the swing high then the stock took support from the 0.382 Fibonacci level.
3. In addition to this, the stock formed a Bullish Engulfing pattern around 0.382 Fibonacci level.
Trade active
Trade closed: stop reached
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