Wave 3 incoming

Aug 21, 2023

Kotak bank has an new impulse cycle on primary degree of which wave 2 has retraced wave 1 by 80%(price level coming around 1750).Also this wave 2's sub-wave A's 100% projection for sub wave C from sub wave B top is coming at 1740.

Stock in today's session has managed to hold this level's and is making new high's through out the day.One can initiate long at CMP of 1769 with SL of 1735 for a target of 1880++.

Disclaimer:Analysis posted here is for my future reference,no position should be taken solely on its basis.

Sep 5, 2023

Trade active

ADD MORE ABOVE 1800

Sep 12, 2023

Note

Stock did managed to close above 1800 in yesterdays trading session.one can add more at cmp of 1800-1803 trail SL to 1760.

Oct 16, 2023

Trade closed: stop reached

Oct 25, 2023

Note

Although we are in a middle of war,Kotak bank seems to be a good long bet for medium term perspective.Stock as shown is giving signs of wave 2 zigzag completion as we have achieved 100% extention target for minor wave C at 1743.We also have Intermediate wave 1 0.81% retracement coming at 1745-48,hence 1740-1735 can act as good support.

Here we can see on minor degree, wave C has taken a form of ending diagonal,and break above minor wave 4 pivot high would confirm the completion of intermediate wave 2 which is coming at 1779.

If we even further break this minor degree wave C's minute degree wave 5(not shown) then we can see this minute wave 5 has also taken a form of ending diagonal,hence a break of minute wave 4 pivot high would be an entry point at a close above 1770.

As both the degrees(Minor and Minute) wave 4 pivot high is very close, a daily close above 1780 can be good long entry point with a stop loss of 1735 on the downside,although ideally one should keep intermediate wave 1 pivot low as stop-loss.

On the upside we can see 1960,2115,2349 once we close above 1780.

Disclaimer this are just my views for my future reference no position should solely be taken on its basis.

Nov 16, 2023

Note

GO LONG AT CMP OF 1781 SL IS 1730

Dec 4, 2023

Note

Today seems to be the day for Kotak bank.In Previous update we didnt got the close above 1780,today stock is trading at 1800+ levels hence can expect it to give a close above 1780 level and going long does make sense.Fresh longs can be initiated at current market price (1804)as well,as now we have a definate exit at 1730 closing basis and upside as targets are mentioned in above post