vithalfadi

Kotak Mahindra Bank - Short Term Bearish

Short
NSE:KOTAKBANK   KOTAK MAHINDRA BAN
Disclaimer: I am not a certified or SEBI registered analyst. Hence, please consider this as educational purpose only.
This is my first post. Thanks for checking it out. I see the bearish crab in 15 min chart. But however, ratios do not seem to fit in. There is a possible double top . RSI on daily seems to be diverging. The last 4 daily candles are green but the height of Tail Above Close is increasing. The previous 15-min big candle with highest volume closed around 1365-1370. This seems to go down over next 2-3 days. The target should be 1370-1360-1320. The suitable price to short would be around 1420-1425. Stop loss 1440. Target 1370 and below. Good Risk:Reward (1:3)

Your comments and thoughts are welcome.

Trade closed: target reached: This forecast worked well!!!!
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