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.
Trade active
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As the stock has reached our buying levels. We have made an entry in this now.
Comment
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SL Should be trailed to 1820 levels now. Hence this trade should not give any loss at all now.
Comment
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Target 1 is reached. SL can now be trailed to 1880 levels.
Comment
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Target 2 is also reached. SL can be trailed to 1925 now.
Trade closed: stop reached
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Trailed stop loss of 1925 has hit. Closing this trade now.