srikartiram

KTKBANK - Despite big fall showing recovery with momentum

Long
NSE:KTKBANK   KARNATAKA BANK
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.

Comments

Do you think it will cross 70 ? I want to enter.
+1 Reply
srikartiram Himanshu93
@Himanshu93, Hello, please follow it if you have some technical and chart experience. Otherwise it is hard for me to explain the analysis.

However this stock is fundamentally very strong among other banks. Surely it will goto 80 to 120. But we can't time the market both fundamentally and technically.
Reply
Himanshu93 srikartiram
@srikartiram, Thanks heaps! I am new and learning.
+1 Reply
CONSOLIDATION IS NOT OVER....ONLY BUY AFTER STRONG CLOSING ABOVE 49...
Reply
Himanshu93 r_milli
@r_milli, Thanks. Still consolidation I think.
Reply
r_milli Himanshu93
@Himanshu93, facing strong monthly resistance...it may come down after break 41.35 to retest 35 level....be cautious ffor buying
Reply
Himanshu93 r_milli
@r_milli, Thanks! Given the tensions right now we should be really cautious.
Reply
r_milli Himanshu93
@Himanshu93, hey bro if u r new trader like me just look WICKSDONTLIE LIVE STREAM on youtube , it helps you..
Reply
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