Swing Opportunity in Kotak Bank
Updated
Go Long above 1768.6, for Targets of 1822.25 with SL 1714.95
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.382 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.382 Fibonacci level.
3. In addition to this the stock will give a Trendline breakout once it crosses 1765 level.
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.382 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.382 Fibonacci level.
3. In addition to this the stock will give a Trendline breakout once it crosses 1765 level.
Order cancelled
Our Entry price did not trigger so we will not trade on this setup.
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