KOTAKBANK to bounce back? | CHART#17

Kotak Mahindra Bank Ltd. Engages in the provision of commercial banking services. It operates through the following segments: Treasury, Balance_Sheet_Management Unit (BMU) and Corporate Centre; Retail Banking; Corporate or Wholesale Banking; Vehicle Financing, Other Lending Activities; Broking; Advisory and Transactional Services; Asset Management; Insurance_ and Other Banking Business.

*Stock Analysis*
1. Kotak Mahindra Bank witnessed a decline in price after reaching its all time high.
2. Prices are consolidating to 1700 levels which is a good entry point for the stock as the stock was trading at that levels during pre-COVID times.
3. Kotak Mahindra Bank is a fundamentally good company which is consistently making highest ever profits, but the share price is not trading at the highest ever price. This mismatch will be corrected soon.
4. Technically Kotak Bank is making a triangle-pattern with base at 1700 level.
5. Stock price is below 200,50,20 Moving averages which can be used for taking entry.
6. Good Entry point for long term investors also.

*Important Levels to Watch*
-- Entry @ Current Market Price ( 1700 range)
-- Target @ 1803 | 1889
-- SL @ 1640

Notes :
Better to hold on to the stock as the rebound can happen any time!!

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Good Luck Investors❗

❗❗Disclosure : I am not a SEBI registered analyst. The information provided here is for education purposes only. I will not be responsible for any of your profit/loss with this suggestions. Consult your financial advisor or do your own analysis before taking any decision❗❗
Trade closed: stop reached