Divergensity

Possible Sell Setup - On Rise

Short
NSE:KOTAKBANK   KOTAK MAHINDRA BAN
Kotak Bank is most likely setting up for a sell. The small term trend is broken and it is consolidating which could mean that its setting up for a sell. The price is at the low so most likely it will move back close to the previous high around 1540 levels. Looking for a sell setup when its back at the top could be prudent in terms of better risk/ reward and for trailing stops. This move could in fact be the start of the C wave on a 240 time frame...
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.