Kotakbank
Let the price suggest you its next move.
Kotakbank has been in a CHANNEL formation for quite some time now. But now the price has gone choppy which seems like a range market, which is tradable on the shorter time frame.
But if we take a step back and see the whole picture. From this point price will either break above the range or will break below it.
> Price broke out of Channel.
> A break below the range will be a good sell signal. A break downwards will also result in piercing the 89MA which will strengthen the down move.
> A break above can be traded the same way.
Lets Wait and see what it does.
Kotakbank has been in a CHANNEL formation for quite some time now. But now the price has gone choppy which seems like a range market, which is tradable on the shorter time frame.
But if we take a step back and see the whole picture. From this point price will either break above the range or will break below it.
> Price broke out of Channel.
> A break below the range will be a good sell signal. A break downwards will also result in piercing the 89MA which will strengthen the down move.
> A break above can be traded the same way.
Lets Wait and see what it does.
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