Kotak Bank: Good FIBO pattern
Updated
The chart shows how Kotak Bank is following the levels of FIBO beautifully. Currently, it is trading at a 50% FIBO level from where if it takes support then it can retest the earlier 32% Zone. If it does not then it will hunt for the 1820 level which is 61.8% level. This zone becomes a very attractive valuation for Kotak Bank.
All Levels are mentioned on the chart.
DISC: For educational purposes only.
All Levels are mentioned on the chart.
DISC: For educational purposes only.
Trade active
As the stock has reached our buying levels. We have made an entry in this now.Note
SL Should be trailed to 1820 levels now. Hence this trade should not give any loss at all now.Note
Target 1 is reached. SL can now be trailed to 1880 levels.Note
Target 2 is also reached. SL can be trailed to 1925 now.Trade closed: stop reached
Trailed stop loss of 1925 has hit. Closing this trade now.
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