Kotak Mahindra Bank exploding after the results.
Kotak Mahindra Bank has given good results and reacted gaining 9.21% today.
A good support from 200 EMA on the weekly charts and now its trading around a minor resistance zone.
For a long time the stock is trading in a range, now the stock has reacted to the news. Either it will take a pause on continue to test the upper resistance around 2000 and 2160.
This is the third time the stock is testing the resistance zone. If the resistance is gone chances of test the ATH will be higher.
Daily supports are around 1800-1840 levels. Gap filling can be done but not so early.
It has also cleared the Moving averages gates of all the four EMAs. Bullishness is there in the stock.
Wait for the price action near the levels before entering the trade.
A good support from 200 EMA on the weekly charts and now its trading around a minor resistance zone.
For a long time the stock is trading in a range, now the stock has reacted to the news. Either it will take a pause on continue to test the upper resistance around 2000 and 2160.
This is the third time the stock is testing the resistance zone. If the resistance is gone chances of test the ATH will be higher.
Daily supports are around 1800-1840 levels. Gap filling can be done but not so early.
It has also cleared the Moving averages gates of all the four EMAs. Bullishness is there in the stock.
Wait for the price action near the levels before entering the trade.
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