NSE:KOTAKBANK   KOTAK MAHINDRA BAN
Kotak bank stock retraced 50% of wave 3 and formed an ending diagonal pattern in wave 4, finally has done breakout from ending diagonal pattern, it looks like the correction is completed and the stock is likely to started its next step of upmove, also the macd in daily time frame has turned bullish and done positive crossover, as the wave 5 unfolds the stock may cross above its all time high.
one can go long at current levels or in dips (if any) , all the key levels are mentioned on chart along with stoploss and targets.


wave structure
retracement by 50%
key levels
stock near to cross upper bollinger band
macd in daily positive crossover
dmi and adx positive ungali setup
rsi in daily above 60 and uptick
rsi in hourly above 60 currently at 80+

Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
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Comments

Sir your calculations are very accurate. Could you please update now ? Should we hold it @2000 if purchased around 1770 price ? Please guide.
+1 Reply
thanks
+1 Reply