anuragsahu614

POSITIONAL TRADE IDEA

Long
NSE:KOTAKBANK   KOTAK MAHINDRA BAN
Kotak Bank has given a breakout after a consolidation of more than 100 days, price has also taken support from 20EMA forming a BUllish Engulfing candlestick pattern. According to fibonacci retracement , price was trying to break the 50% resistance line and today it has successfully closed above it. Price can move further if it sustains itself above 1830 level, there is a small resistance at 1875 from that level price may give a retracement and can come to test the support. if the support remains strong we can see 10% to 15 % upward move.
Trade active: Price is testing and consolidating near resistance zone. wait and watch situation, if breaks out another entry can be done above 2052 with a SL below 1978.