Topic Statement:
Kotak Bank has been trading sideways since 2021, forming a structured accumulation and distribution pattern within a broad range.
Key Points:
* The stock has clear accumulation and distribution zones, making channel-based trading efficient
* A recent breakout attempt was met with strong resistance, forming a double top pattern and pushing the price down
* The price has overextended above the 180-day EMA, contributing to the heavy resistance at the double top
* Accumulating the stock near or below the 180-day EMA presents a favorable long-term opportunity
Kotak Bank has been trading sideways since 2021, forming a structured accumulation and distribution pattern within a broad range.
Key Points:
* The stock has clear accumulation and distribution zones, making channel-based trading efficient
* A recent breakout attempt was met with strong resistance, forming a double top pattern and pushing the price down
* The price has overextended above the 180-day EMA, contributing to the heavy resistance at the double top
* Accumulating the stock near or below the 180-day EMA presents a favorable long-term opportunity
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.