*Stock is consolidating in the zone of 1785-1755 *the stock has eventually broken out of its bearish trendline *after breakout the stock is consolidating and creating a base *the swing high of the base i 1785 *a close above the swing high will open up a possible 5%-10% move on upside in the stock *bank has been a underperformer in the recent rally from 37500-44150 *such setup usually create big moves *we will revise target if major data is available
KOTAK BANK BUY@1780-1785 STOP@1749 TARGET-1@1810 TARGET-2@1825 TARGET-3@1840
NOTE -target is for short-term -once there is more data indicating a larger trade -we will shift the target higher
DISCLAIMER -this is my personal view -trade according to your risk appetite -manage your risk
5% May be not possible. because of 1835 &1840 is resistance area. if it stayed above 1840 on daily basis of candle close.. You can achieve 5% target🎯.
This is my view...
Not an advice...
Thank you... !
manavtechresearch
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@NaveenBoga, like mentioned a swing close is needed but the setup is bullish will get momentum above 1800 last week of feb contract will be up expecting gamma burst in stock
This is my view...
Not an advice...
Thank you... !