KTKBANK - Despite big fall showing recovery with momentum
Positional analyze for Short term holding (may take some quarters)
Weekly time frame for the last 8 months price was making Lower low, after big fall now RSI Bullish divergence occurring. High probability the price will goto its previous level of Rs.70/-
CMP : 43.25
Any dip / fall is an opportunity for accumulation until 34/-
SL : 30
Target : 70, 88
If you switch to DAILY time frame you will see Inverted Head & Shoulder pattern in forming which is another confirmation and high probability setup.
They provide Rs. 3.50 dividend on average at this price range, it is almost 7% yield per annum and stock is available at 0.25 Price to Book. Due to pressure on the financial sector the stock might be struggling to shoot up. Still it is a good opportunity for us. I'm hoping the stock will continue to attract the investors shortly.
Weekly time frame for the last 8 months price was making Lower low, after big fall now RSI Bullish divergence occurring. High probability the price will goto its previous level of Rs.70/-
CMP : 43.25
Any dip / fall is an opportunity for accumulation until 34/-
SL : 30
Target : 70, 88
If you switch to DAILY time frame you will see Inverted Head & Shoulder pattern in forming which is another confirmation and high probability setup.
They provide Rs. 3.50 dividend on average at this price range, it is almost 7% yield per annum and stock is available at 0.25 Price to Book. Due to pressure on the financial sector the stock might be struggling to shoot up. Still it is a good opportunity for us. I'm hoping the stock will continue to attract the investors shortly.
Trade closed: target reached